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

INFOSYS LIMITED

(INFY)
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Sensex, Nifty rally for eighth day as IT gains offset banking losses

10/12/2020 | 07:19am EST
A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai

BENGALURU (Reuters) - Indian shares ended higher on Monday as gains in IT stocks offset losses in banking shares, which slid after fiscal stimulus measures fell short of market expectations, while a major grid failure caused a widespread power outage in the financial hub of Mumbai.

The NSE Nifty 50 index ended 0.14% higher at 11,930.95, having briefly crossed the psychologically significant 12,000-level last seen in February. The S&P 500 BSE Sensex ended up 0.21% at 40,593.8, rallying for the eighth straight day of trading.

Shares of IT heavyweight Infosys ended 2.3% higher, ahead of results on Wednesday. The Nifty IT index added 1.7%, piling on last week's gains due to strong results and a big buyback from Tata Consultancy Services Ltd.

Banking stocks slipped as finance minister Nirmala Sitharaman's plans to stimulate consumer demand, including advance payment of a part of the wages of federal government employees during the festival season, fell short of investor expectations.

"If you compare the advance payment of wages for government employees and loans provided to the states and measure it with GDP, it is a minuscule amount," said Saurabh Jain, assistant vice president at SMC Global Securities Ltd in New Delhi.

India's GDP contracted at its steepest pace of 23.9% in the June quarter, raising fears of a recession.

The Nifty Bank index, which rose as much as 1.4% in the morning, ended 0.56% lower.

Meanwhile, a grid failure caused a widespread power outage in Mumbai and surrounding areas during the day, though the National Stock Exchange and the BSE said they were operating normally.

Investors also awaited consumer price inflation data due at 1200 GMT.

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

By Sethuraman N R


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL 0.29% 29969.52 Delayed Quote.4.71%
DR. REDDY'S LABORATORIES LIMITED 1.55% 4924.5 End-of-day quote.71.16%
INFOSYS LIMITED 0.57% 1134.6 Delayed Quote.54.07%
NASDAQ 100 0.09% 12467.128958 Delayed Quote.42.63%
NASDAQ COMP. 0.23% 12377.181515 Delayed Quote.37.70%
S&P 500 -0.06% 3666.72 Delayed Quote.13.49%
SENSEX 30 0.03% 44632.65 Real-time Quote.8.16%
TATA CONSULTANCY SERVICES 0.83% 2725.8 Delayed Quote.25.34%
All news about INFOSYS LIMITED
12/03CLOUD, CYBERSECURITY, AND MODERNIZAT : Infosys – HFS Research
PU
12/02INFOSYS : Improving Digital Learning Experiences for People with Disability
PU
12/02INFOSYS : Science Foundation Awards Infosys Prize 2020 Winners in Six Categories
PU
12/02INFOSYS : Rolls-Royce and Infosys Announce Strategic Partnership for Aerospace E..
PU
12/02Indian shares inch lower as banks, Reliance slip
RE
12/01Sensex, Nifty hit record closing highs on vaccine hopes, signs of economic re..
RE
12/01Indian shares rise on economic recovery signs, auto sales data eyed
RE
11/27Sensex, Nifty slip before GDP data; auto stocks shine
RE
11/25Sensex, Nifty slide as investors lock in gains after record high
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11/23Nifty, Sensex rise on vaccine optimism; Reliance gains
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More news
Financials
Sales 2021 986 B 13 375 M 13 375 M
Net income 2021 187 B 2 542 M 2 542 M
Net cash 2021 286 B 3 879 M 3 879 M
P/E ratio 2021 25,3x
Yield 2021 2,42%
Capitalization 4 779 B 64 744 M 64 809 M
EV / Sales 2021 4,56x
EV / Sales 2022 4,04x
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
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 35
Average target price 1 284,60 INR
Last Close Price 1 126,45 INR
Spread / Highest target 64,2%
Spread / Average Target 14,0%
Spread / Lowest Target -38,7%
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
Sector and Competitors
1st jan.Capitalization (M$)
INFOSYS LIMITED54.07%64 744
ACCENTURE PLC18.69%158 176
TATA CONSULTANCY SERVICES27.19%139 912
INTERNATIONAL BUSINESS MACHINES CORPORATION-7.78%111 044
AUTOMATIC DATA PROCESSING, INC.0.63%73 576
VMWARE, INC.-7.44%59 372