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MarketScreener Homepage  >  Equities  >  NSE India Stock Exchange  >  Infosys Limited    INFY   INE009A01021

INFOSYS LIMITED

(INFY)
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Bank stocks lift Sensex, Nifty ahead of loan moratorium hearing

10/14/2020 | 06:44am EST
A man wearing a protective mask walks past the Bombay Stock Exchange (BSE) building in Mumbai

BENGALURU (Reuters) - Indian shares reversed early losses to end higher on Wednesday after bank stocks rose sharply ahead of a court hearing on waiving interest on loans under moratorium due later in the day.

The Nifty closed up 0.31% at 11,971.05, while the Sensex closed 0.42% higher at 40,794.74. Both indexes have now risen for ten straight sessions.

The Nifty Bank index, which slid as much as 1.5% earlier in the day, erased losses to end 1.63% higher ahead of a hearing at India's top court on waiving interest on loans under moratorium.

Banks are hoping that borrowers will not be given further respite beyond the waiver on compound interest for loans up to 20 million rupees for six months, which the government has agreed to pay.

Top private lender HDFC Bank ended 1.26% higher, while IndusInd Bank rose 2.4%.

Meanwhile, the International Monetary Fund cut its forecast for India's gross domestic product growth, which fell at its steepest pace of 23.9% in the June-quarter. It now expects Asia's third-largest economy to contract 10.3% for the fiscal year.

India's wholesale price index inflation rose to 1.32% in September against 0.16% in August, according to government data.

Wipro Ltd's shares fell as much as 6.9%, the top percentage loser on the Nifty 50, after the company reported a quarterly profit that missed market estimates.

Shares of IT heavyweight Infosys Ltd ended 1.8% lower ahead of its quarterly results later in the day.

The Nifty IT index which has risen 43.7% this year as of Tuesday's close, ended 1.28% lower on Wednesday.

"To justify their valuations, they (IT companies) will have to show good top-line growth," said Anita Gandhi, director at Arihant Capital Markets.

(Reporting by Philip George in Bengaluru; Editing by Ramakrishnan M.)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
INDUSIND BANK LIMITED 0.85% 857.65 End-of-day quote.-43.22%
INFOSYS LIMITED -0.83% 1128.7 Delayed Quote.50.45%
NIFTY 50 -0.03% 13095.3 Delayed Quote.6.58%
NIFTY BANK 0.20% 29708.5 Delayed Quote.-7.94%
NIFTY IT -0.43% 22059.65 Delayed Quote.39.05%
SENSEX 30 1.15% 44655.44 Real-time Quote.8.25%
WIPRO LIMITED -1.28% 350.5 End-of-day quote.42.51%
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Financials
Sales 2021 987 B 13 427 M 13 427 M
Net income 2021 187 B 2 551 M 2 551 M
Net cash 2021 286 B 3 893 M 3 893 M
P/E ratio 2021 25,6x
Yield 2021 2,40%
Capitalization 4 827 B 65 664 M 65 706 M
EV / Sales 2021 4,60x
EV / Sales 2022 4,09x
Nbr of Employees 240 208
Free-Float 85,0%
Chart INFOSYS LIMITED
Duration : Period :
Infosys Limited Technical Analysis Chart | INFY | INE009A01021 | MarketScreener
Technical analysis trends INFOSYS LIMITED
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 35
Average target price 1 284,60 INR
Last Close Price 1 137,85 INR
Spread / Highest target 62,6%
Spread / Average Target 12,9%
Spread / Lowest Target -39,4%
EPS Revisions
Managers
NameTitle
Salil S. Parekh Chief Executive Officer, MD & Executive Director
Mohit Joshi Co-President
Ravi Kumar S. Co-President & Deputy Chief Operating Officer
Nandan M. Nilekani Non-Executive Chairman
U. B. Pravin Rao Chief Operating Officer & Executive Director
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