Infosys sees 4-7% revenue growth in FY24 after it misses its FY23 guidance

Infosys raises revenue guidance for FY23 to 16-16.5%, revenue growth beats analyst expectations

Infosys reports 4% revenue growth in constant currency, announces ₹9,300 crore worth buyback of shares

<ul><li>The Indian IT sector is in trouble – not entirely due to recessionary concerns or smaller deal wins.</li><li>The problem is a lot more internal – it’s the record number of employees leaving them.</li><li>Despite employee wage costs increasing, analysis by Business Insider India reveals a rather surprising statistic – read on to find out.</li></ul>Earnings of Indian tech companies in FY23 is off to what some would call a sobering start. The three giants, <keyword id="6357150" type="General" weightage="80" keywordseo="tcs" source="Orion">TCS</keyword>, <keyword id="6354512" type="General" weightage="80" keywordseo="infosys" source="Orion">Infosys</keyword> and <keyword id="10862" type="General" weightage="80" keywordseo="wipro" source="Orion">Wipro</keyword> reported a sequential decline in profits, blaming wage hikes and increased travel costs, among other things. A previous Business Insider India report highlighted that <a href="https://www.businessinsider.in/business/corporates/news/tcs-infosys-wipro-salary-in-2022-at-3-lakh-crore/articleshow/92957422.cms">Indian IT companies have spent up to 62% of their revenues towards salaries and wages</a> of their employees, with the total salary bill for FY22 coming in at ₹3 lakh crore. For context, the Indian government <a href="https://economictimes.indiatimes.com/markets/stocks/news/govt-seeks-parliament-nod-for-rs-3-lakh-crore-extra-spending/articleshow/88083603.cms?from=mdr">spent</a> a similar amount towards providing fertilizer subsidy, clearing Air India’s debts, clearing export subsidy dues and providing four months of free ration for 80 crore ration card holders in the country. Over the last five years, giants like TCS, Infosys and Wipro have maintained their salaries outflows at an average of 53-55%, while the smaller players like L&amp;T Infotech (LTI) and Mindtree shelled out the most, between 60-63%. <div type="image" title="Average IT cos salary ratio FY18-22." msid="93120262" hostid="261" sizebytes="15970" caption="&amp;lt;p&amp;gt;Salaries paid in the last year&amp;lt;/p&amp;gt;"></div> In the first three months of FY23, Indian IT companies spent an average of 57% of their revenues on employee wages, and some companies like Infosys even offered single and double-digit wage hikes to their high-performing employees. <div type="Article" hostid="261" msid="93092886" title="Infosys reports a sequential decline in net profit, but increases revenue &amp; margin guidance for FY23" mstype="2" mssubtype="0"></div> <cmsannotation type="cmsannotation" annotationid="Don’t blame the wage “hikes”" comment="subhead" text="Don’t blame the wage “hikes”">Don’t blame the wage “hikes”</cmsannotation> However, scratching the surface of these earnings suggests it’s not the wage hikes dragging earnings down – it’s the attrition rates and the resulting training they need that is to blame. Indian IT companies have not been able to stem the tide of employees leaving them – TCS, the largest of the lot, saw the worst sequential increase in its attrition rates, while Infosys continued to have the worst overall rates. Of the six IT companies which have released their numbers, Wipro performed the best, with an attrition rate of 23.3% – even that is high, since the company lost 1 in 4 employees in the last 12 months, rendering the 3-4 months training expenses worthless. To compensate for these high attrition rates, Indian IT companies have been on a hiring spree, and a bulk of these hires are freshers who need training of 3-4 months. Overall, amongst TCS, Infosys and Wipro, the rate of addition of new employees was the highest at Infosys – its workforce increased 25% on a year-on-year basis. Even on a sequential basis, Infosys added the most, at 7%. <div type="image" title="IT cos headcount Q1 FY23." msid="93120293" hostid="261" sizebytes="18432" caption="&amp;lt;p&amp;gt;IT companies headcount&amp;lt;/p&amp;gt;"></div> <cmsannotation type="cmsannotation" annotationid="As a result, average wages have actually declined" comment="subhead" text="As a result, average wages have actually declined">As a result, average wages have actually declined</cmsannotation> Overall, these six companies have nearly 15 lakh employees amongst themselves, as against 12.3 lakh employees a year ago – this is an increase of nearly 22%. The total employee wages at the end of Q1 FY23 stood at ₹67,301 crore, increasing from ₹55,796 crore a year ago – a growth of nearly 21%. Wages have not kept up pace with inflation – the average wage actually fell from ₹4.54 lakh a year ago to ₹4.5 lakh in Q1 FY23. It is not clear how Indian IT companies plan to bring attrition rates back under control, but it is critical for them to improve this especially at a time when recessionary concerns have started having an impact on their top as well as bottom lines. <a href="https://www.businessinsider.in/business/corporates/news/tcs-says-no-footprint-of-recession-in-the-near-term-but-deal-sizes-are-shrinking/articleshow/92752495.cms">Even the largest Indian IT company is not immune to this, with its deal sizes shrinking</a>. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/why-is-zomato-share-price-down-today/articleshow/93101975.cms">Zomato tanks 14% wiping out ₹1,000 crore investor wealth – here’s what is happening</a> <a href="https://www.businessinsider.in/tech/enterprise/news/tcs-crosses-6-lakh-employee-milestone-even-as-1-in-5-quit-in-the-first-quarter/articleshow/92751631.cms">TCS crosses the 6 lakh employee milestone even as 1 in 5 quit in the first quarter</a> <a href="https://www.businessinsider.in/business/corporates/news/wipros-net-profit-drops-12-drop-in-q1-as-recession-fears-grip-its-non-us-clients/articleshow/93006573.cms">Wipro’s net profit drops 12% drop in Q1 as recession fears grip its non-US clients</a>

It is attrition rates and not the wage hikes dampening Indian IT cos earnings

Infosys reports a sequential decline in net profit, but increases revenue & margin guidance for FY23

<ul><li><keyword id="6354512" type="General" weightage="20" keywordseo="Infosys" source="Orion">Infosys</keyword> has become the first Indian IT major to pull out of Russia. </li><li>The Salil Parekh-led company also announced a $1 million humanitarian aid fund. </li><li>Infosys made the announcement during an investor call following the declaration of its FY21-22 results today. </li></ul>Infosys is pulling out of Russia and ceasing its operations in the country, the company’s chief executive officer Salil Parekh said today during the company’s <a href="https://www.businessinsider.in/tech/enterprise/news/infosys-is-looking-to-hire-50000-employees-this-year-while-expecting-the-attrition-rate-to-come-down/articleshow/90826046.cms">earnings results</a> for the three months, and year ended March 2022. “We have started to transition all of our work from our centres in Russia to our centres outside Russia. We have less than 100 employees in Russia,” said Parekh during the investor call. “We work with no Russian clients and the work we do [there] is with a small number of global clients in Russia,” he further added. This makes Infosys the first Indian information technology (IT) major to pull out of Russia, amidst growing calls and pressure on India and Indian companies to cease business with the Vladimir Putin-led country. <cmsannotation type="cmsannotation" annotationid="‘No plans to do business’ with Russian clients" comment="subhead" text="‘No plans to do business’ with Russian clients">‘No plans to do business’ with Russian clients</cmsannotation> In what also comes across as a rather bold announcement, Parekh said, “We don’t have any plans going ahead,” with respect to doing business with Russian clients. The ongoing Russia-Ukraine war has seen mounting pressure from the West on India and Indian businesses to cut, or limit their ties with Russia, at least until the Putin-led government ends its hostilities against Ukraine. <cmsannotation type="cmsannotation" annotationid="Infosys announces $1 million in humanitarian aid" comment="subhead" text="Infosys announces $1 million in humanitarian aid">Infosys announces $1 million in humanitarian aid</cmsannotation> Apart from this, Parekh also revealed that Infosys has launched a $1 million fund to cater to the humanitarian needs in the region. In addition to this, Parekh also outlined that Infosys is providing assistance like re-skilling of individuals who have been displaced as a result of the pullout. This also includes exploring possibilities of identifying relocation opportunities for these individuals in eastern Europe, Parekh added. <cmsannotation type="cmsannotation" annotationid="‘No impact within our business’" comment="subhead" text="‘No impact within our business’">‘No impact within our business’</cmsannotation> Parekh also underlined that the Russian pull-out has “no impact” on Infosys, as far as the company’s business is concerned. Parekh justified this by stating that the business that Infosys does conduct in Russia – or used to – was with respect to a small number of global clients. Since no Russian clients are involved, it is possible that the pullout has been easier. SEE ALSO: <a href="https://www.businessinsider.in/tech/enterprise/news/infosys-is-looking-to-hire-50000-employees-this-year-while-expecting-the-attrition-rate-to-come-down/articleshow/90826046.cms">Infosys is looking to hire 50,000 employees this year while expecting the attrition rate to come down</a> <a href="https://www.businessinsider.in/tech/news/samsungs-recycled-parts-program-might-make-your-phone-repairs-up-to-50-cheaper/articleshow/90824387.cms">Samsung’s recycled parts programme might make your phone repairs up to 50% cheaper</a> <a href="https://www.businessinsider.in/business/startups/news/web-3-0-saas-and-fintech-will-be-big-investment-focus-for-2022/articleshow/90819387.cms">Web 3.0, SaaS and fintech will be big focus areas for 2022 even though early stage investments are expected to slow down</a>

Infosys becomes the first Indian IT major to pull out of Russia, announces $1 million humanitarian aid fund

<ul><li>IT services major <keyword id="6354512" type="General" weightage="100" keywordseo="infosys" source="Orion">Infosys</keyword>’ shares tanked over 9% on Monday after the company’s disappointing performance in the March quarter.</li><li>Infosys’ CEO and MD Salil Parekh painted a sombre outlook for FY24, projecting a lower-than-expected earnings guidance of 4-7% growth.</li><li>This spooked the street and analysts alike, with several brokerages trimming their target prices for Infosys while underlining a weak outlook for the company.</li></ul>IT services major Infosys’ shares tanked over 9% on Monday after the company’s disappointing March quarter performance and sharply lower growth outlook for FY24 had investors and analysts worried. Infosys was the top loser in the Nifty50 and the Nifty IT indices, and was also the most active stock today. After hitting the lower circuit in pre-opening trades on Monday, Infosys’ shares recovered slightly to close the day lower by 9% at ₹1,259. The IT flock as a whole closed lower by 4.7%, with all the stocks in the index in the red, reflecting the caution amongst investors as far as the future outlook of the IT sector is concerned. To recall, Infosys<a href="https://www.businessinsider.in/business/corporates/news/infosys-sees-4-7-revenue-growth-in-fy24-after-it-misses-its-own-fy23-revenue-guidance/articleshow/99467637.cms"> missed its own FY23 guidance</a> of 16-16.5%, registering a constant currency revenue growth of 15.4% for the fiscal year. <cmsannotation type="cmsannotation" annotationid="What has investors spooked: Uncertain environment, unplanned project ramp downs" comment="subhead" text="What has investors spooked: Uncertain environment, unplanned project ramp downs">What has investors spooked: Uncertain environment, unplanned project ramp downs</cmsannotation> However, what has investors and analysts spooked is the sharply lower revenue growth outlook for FY24 – Infosys has guided for a revenue growth of 4-7% in FY24, which is lower than analyst expectations of 6-8% growth. The Bengaluru-based IT services firm’s commentary on demand outlook also has investors on edge. “During the quarter, we saw unplanned project ramp downs in some of our clients, and delays in decision-making, which resulted in lower volumes. In addition, we had some one-time revenue impact,” said Salil Parekh, Infosys’ chief executive officer and managing director. Analysts at Nomura stressed that Infosys’ commentary indicates a significant demand slowdown and rising cost prices as reflected in the trimmed margin guidance for FY24. “Infosys’ guidance of 4-7% year-on-year (YoY) revenue growth (constant currency) for FY24 (vs 13-15% for FY23 at the start of the previous year) and our expectation of 6-8% YoY guidance represent significant moderation in demand,” Nomura said, trimming its projected valuation of the company from 21x to 18x price-to-earnings. Analysts at HDFC Securities underlined that the recent senior-level exits could add to the growth risks for the company. Explaining why the company missed its own revenue guidance, CEO Parekh said that it was due to “ramp downs which were unplanned”. “This was across sectors. We saw some in telecom, some in high-tech, some in retail. Within financial services, [it was] mortgages, asset management and investment banking,” Parekh added. Analysts at Nuvama Institutional Equities cut their earnings per share estimate for Infosys by 4.4-6.3% for FY24 and FY25 due to the “disappointing Q4” performance, but maintained that the longer-term prospects of the company remain intact. <cmsannotation type="cmsannotation" annotationid="Brokerages trim target prices" comment="subhead" text="Brokerages trim target prices">Brokerages trim target prices</cmsannotation> Brokerages have trimmed their target prices for Infosys over the next 12 months, on account of the demand slowdown and headwinds to margin expansion in the form of wage and other cost increases. Despite the cuts in target prices, most brokerages maintained their ‘buy’ recommendations on the stock. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target price </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Institutional Equities </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,470 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Buy </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jefferies </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,570 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Buy </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nomura </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,290 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Neutral </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Securities </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,470 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Add </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Emkay Global </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,620 </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Buy </td></tr></tbody><tbody></tbody><tbody></tbody></table> Source: Brokerages <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[<blockquote class="stocktwits-embedded-post" data-origin="https://stocktwits.com" data-id="523238580"> $INFY.NSE Hope some of you&#39;ll benefitted 😊 Nothing is surprising, the setup was there, news is just catalyst. Still enough time before we bottom out. &mdash; (@prashant280294) <a href="https://stocktwits.com/prashant280294/message/523238580"> April 17, 2023</a></blockquote><script async src="https://stocktwits.com/min/widgets.js" charset="utf-8"></script>]]></cdata></div> SEE ALSO: <a href="https://www.businessinsider.in/finance/news/is-the-dollar-dying-its-reserve-currency-status-may-be-at-risk-it-isnt-time-to-die/articleshow/99497760.cms">Is the Dollar dying? Its reserve currency status may be at risk, it isn’t time to die</a> <a href="https://www.businessinsider.in/finance/news/rbis-mpc-decisively-in-a-rate-pause-territory-as-inflation-cools-down/articleshow/99497132.cms">RBI's MPC 'decisively' in a rate-pause mode as inflation cools down</a> <a href="https://www.businessinsider.in/entertainment/news/what-can-1-get-you-30-minutes-of-trailers-at-pvr-inox/articleshow/99487702.cms">What can ₹1 get you? 30 minutes of trailers at PVR Inox</a>

Infosys shares tank over 9% post a disappointing Q4, analysts caution demand moderation ahead

<ul><li><keyword id="6354512" type="COMPANY" weightage="20" keywordseo="Infosys">Infosys</keyword> had a blockbuster year with large deal signings hitting at all time high of $14 billion.</li><li>CEO <keyword id="328377" type="PERSON" weightage="20" keywordseo="Salil-Parekh">Salil Parekh</keyword> expects the coming year to be even better with double digit revenue growth on the charts.</li><li>The company has forecast that it will be able to hit anywhere between 12% to 14% revenue growth.</li><li>However, between the months of January to March, Infosys saw its profit after tax fall by 1.3% in dollar terms.</li></ul>Infosys saw its revenue grow by 5% ⁠— without factoring in exchange rate changes ⁠— this past year. But chief executive Salil Parekh is eyeing double digit growth in the coming 12 months. The Bengaluru-based technology services giant has issued a revenue growth guidance of 12% to 14% for the year ending March 2022. “A strong momentum exiting FY21, alongside a focused strategy to accelerate client digital journeys, gives us confidence for a stronger FY22,” said Parekh in the earnings report. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<div class="flourish-embed flourish-chart" data-src="visualisation/5853404"><script src="https://public.flourish.studio/resources/embed.js"></script></div>]]></cdata></div> It also expects its operating margins to remain between 22% to 24%. This is lower than the 25.4% level that Infosys has sustained for the last three quarters — likely accounting for increase in costs as employees rejoin office. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<div class="flourish-embed flourish-chart" data-src="visualisation/3185169"><script src="https://public.flourish.studio/resources/embed.js"></script></div>]]></cdata></div> However, between the months of January to March, Infosys saw its profit after tax fall by 1.3% in dollar terms. <cmsannotation type="cmsannotation" annotationid="Big deals, big money — and even bigger revenue growth" comment="subhead" text="Big deals, big money — and even bigger revenue growth">Big deals, big money — and even bigger revenue growth</cmsannotation> The pandemic had many businesses speeding up their plans to go digital, and that played in Infosys favour. The company saw an all-time high in bringing in large deals worth $14.1 billion in the last twelve months, ending March 2021. While only $2.1 billion came in during the latest quarter — from 25 new large deals — the company set a new record between the months of July to September at $7.13 billion. The company, now, officially earns more than half of its revenue from digital services. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<div class="flourish-embed flourish-chart" data-src="visualisation/3376579"><script src="https://public.flourish.studio/resources/embed.js"></script></div>]]></cdata></div> The company plans to continue with mergers and acquisitions activity in the coming year. “With M&amp;A, we will continue with our focus on digital and cloud acquisition opportunities. We will continue to look at the cultural and strategic fit, and of course, the price of the asset that we’re looking to acquire,” said Parekh during the earnings call. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/infosys-announces-buyback-worth-9200-crore-at-1750-per-share/articleshow/82066356.cms">Infosys will buy back shares at ₹1,750 in the open market</a> <a href="https://www.businessinsider.in/tech/apps/news/whatsapps-new-privacy-policy-doesnt-give-you-choice-and-could-limit-your-options-in-the-future-too/articleshow/82063830.cms">WhatsApp's new privacy policy doesn't give you choice — and could limit your options in the future too</a> <a href="https://www.businessinsider.in/science/space/news/indian-astronomers-spot-over-200-new-stars-in-the-pacman-nebula-and-51-of-them-are-yet-to-reach-adulthood/articleshow/82060301.cms">Indian astronomers spot over 200 new stars in the Pacman Nebula — and 51 of them are yet to reach adulthood</a>

Infosys had a great year but CEO Salil Parekh expects the next one to be more than twice as good

<ul><li><keyword id="620690" type="General" weightage="20" keywordseo="Infosys-share-price" source="Orion">Infosys share price</keyword> surged over 4% in early trade, after the company’s Q2 show and revised FY23 guidance.</li><li><keyword id="6354512" type="General" weightage="100" keywordseo="infosys" source="Orion">Infosys</keyword> also announced ₹9,300 crore worth share buyback programme, offering a 30% premium over October 13’s closing price.</li><li>Infy’s commentary has also resulted in brokerages increasing the stock’s target price with an upside of up to 33%.</li></ul>IT major Infosys’ shares surged by over 4% in early trade today after the company<a href="https://www.businessinsider.in/business/corporates/news/infosys-reports-4-revenue-growth-in-constant-currency-announces-9300-crore-worth-buyback-of-shares/articleshow/94838572.cms"> reported better-than-expected earnings in Q2</a> and announced a share buyback programme worth ₹9,300 crore. The sharp surge in Infosys shares comes a day after the IT major reported revenue growth on the back of $2.7 billion worth large deal wins. The company also raised revenue growth guidance for FY23 to 15-16%, from the 13-15% that it had announced at the end of FY22. “Infosys' Q2 results were above estimates driven by margin expansion. Deal wins at a seven-quarter high and healthy hiring trends offer comfort on growth,” said a report by Jefferies, maintaining its ‘buy’ rating on the stock, adding that even though its current valuation is at a premium to its 10-year average, the company’s growth outlook justifies it. Infosys’ revenue growth in constant currency terms came in at 4% sequentially, and 18.8% on a year-on-year basis, in line with analyst expectations. Digital revenues, which account for 61.8% of its total revenues, grew 31.2% year-on-year in constant currency. Global brokerage Credit Suisse said in a note that the large share of digital services in Infosys’ revenue mix could reduce the impact of the slowdown in IT services growth in FY24 when compared to its peers. Overall, Infosys’ revenue grew 6% sequentially to ₹36,358 crore, while net profit surged 12.3% to ₹6,021 crore. Infosys also announced ₹9,300 crore worth share buyback programme at ₹1,850 per share – this was at a premium of 30% over yesterday’s closing price. <div type="image" title="Infosys 01_01_22 to 14_10_22." msid="94851143" hostid="261" caption="&amp;lt;p&amp;gt;Infosys share price in 2022 so far&amp;lt;/p&amp;gt;"></div> Here’s what brokerages recommend: <table style="border-width: initial; border-style: none;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rating </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target price </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Upside </td></tr><tr><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Edelweiss Research </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Buy </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,891 </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">33% </td></tr><tr><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CLSA </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Buy </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,800 </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">27% </td></tr><tr><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jefferies </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Buy </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,700 </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20% </td></tr><tr><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Credit Suisse </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Outperform </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,710 </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20% </td></tr><tr><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Citi </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Buy </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,685 </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">19% </td></tr><tr><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nomura </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Buy </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,640 </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JP Morgan </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Neutral </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,600 </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13% </td></tr><tr><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BofA Securities </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Neutral </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,535 </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8% </td></tr><tr><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UBS </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Neutral </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,490 </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Note: Upside compared to the closing price of ₹1,419.90 on October 13, 2022 SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/infosys-reports-4-revenue-growth-in-constant-currency-announces-9300-crore-worth-buyback-of-shares/articleshow/94838572.cms">Infosys reports 4% revenue growth in constant currency, announces ₹9,300 crore worth buyback of shares</a> <a href="https://www.businessinsider.in/business/corporates/news/it-cos-go-slow-on-hiring-despite-high-attrition-rates-hiring-down-57-in-q2/articleshow/94832706.cms">IT cos go slow on hiring despite high attrition rates, hiring down 57% in Q2</a> <a href="https://www.businessinsider.in/stock-market/news/wipro-is-the-top-loser-on-the-exchanges-while-hcl-tech-is-the-top-gainer/articleshow/94827205.cms">HCL Tech surges on better than expected earnings, Wipro hits 52-week low on disappointing Q3 guidance</a>

Infosys shares surge after Q2 results, ₹9,300 crore buyback announcement

<ul><li>Infosys is expected to fare better than its peers during the first-quarter earnings. </li><li>The Indian IT services company is slated to announce its results on July 15. </li><li>All eyes will be on the value of Infosys’ large deals between April through to June, according to analysts.</li></ul>Infosys is set to post its first-quarter results on July 15 and — as compared to other Indian IT services companies — Infosys is likely to show the least amount of dip in its revenues this quarter, according to analysts. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Expected drop in revenue QoQ </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-4.8% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IDBI </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5.7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5.5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nirmal Bang </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5% </td></tr></tbody></table>Source: Preview reports Ahead of its earnings announcement, <keyword id="620690" type="PERSON" weightage="20" keywordseo="Infosys-share-price">Infosys share price</keyword> jumped by more than 8% on Wednesday morning. <div type="image" title="Infosys share price" msid="76975732" hostid="261" caption="&amp;lt;p&amp;gt;Infosys share jumped by 8% on Wednesday morning ahead of earnings results announcement&amp;lt;/p&amp;gt;"></div> Margin impact, in particular, is likely to be limited relative to peers. IDBI Securities expects earnings before interest and tax (EBIT) margin to decline by 45 basis points (bps) this quarter. For TCS, the EBIT margin fell by 148 bps. That’s 1.48% since 100 basis points make up 1%. According to IDBI’s preview, the decline may even have been greater, “but for 50bps impact in Q4FY20 due to provisions for receivables and higher CSR [corporate social responsibility] spend,” it said. <div type="image" title="Infosys share price" msid="76952707" hostid="261" caption="&amp;lt;p&amp;gt;Infosys share price this year&amp;lt;/p&amp;gt;"></div> Infosys’ share price is up by 8% so far this year. Despite the massive hit it took when news of the coronavirus pandemic broke, the company’s stock value has managed to recuperate to ₹796.7 as of Monday. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Price change in 2020 so far </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8.25% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.38% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.29% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-8.19% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-21.24% </td></tr></tbody></table>Source: BSE, closing price on Jan 01 compared the closing price on July 13 Keep an eye on large deal wins All eyes will be on the value of Infosys’ large deals between April through to June, say analysts. “Our sense is that large deal TCV [total contract value] will likely be between $1 to 1.5 billion,” said Nirmal Bang in its preview. In comparison, TCS was able to bag $8.9 billion worth of contracts in its first-quarter. The earnings will show whether the deal wins are new deals or renewals. “The latter has been a sore point for Infosys in recent quarters with a larger portion of the TCV being renewals compared to FY19,” Nirmal Bang’s report added. Nonetheless, the manufacturing and auto verticals are likely to see continued pressure, according to Motiwala Oswal. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/tech-mahindra-intel-wipro-and-other-multinationals-hiring-engineers/articleshow/76379519.cms">Tech Mahindra, Intel, Wipro and other multinationals hiring engineers</a> <a href="https://www.businessinsider.in/business/corporates/news/tcs-infosys-wipro-and-tech-mahindra-what-to-expect-from-earnings/articleshow/76865753.cms">TCS and Infosys to face least impact — Indian IT companies likely to report sharp decline in revenue during first quarter</a>

The key thing to watch out for during Infosys earnings will be the size of the new deals

TCS, Infosys, Wipro, Vodafone Idea, Tata Tele and other hot stocks on January 12

<keyword id="6354512" type="CITY" weightage="20" keywordseo="Infosys">Infosys</keyword> saw another high profile exit as the MD of the $500 million <keyword id="3861225" type="UNKNOWN" weightage="20" keywordseo="infosys-innovation-fund">Infosys Innovation Fund</keyword> stepped down. This comes as a setback for <keyword id="6369763" type="PERSON" weightage="20" keywordseo="Vishal-Sikka">Vishal Sikka</keyword> who seeks to strengthen new digital and innovation capabilities. <keyword id="2825391" type="UNKNOWN" weightage="20" keywordseo="Yusuf-Bashir">Yusuf Bashir</keyword>, MD of Infosys Innovation Fund, had worked closely with Sikka at SAP and had joined Infosys in March 2015. Bashir’s exit comes after <keyword id="2558261" type="UNKNOWN" weightage="20" keywordseo="Ritika-Suri">Ritika Suri</keyword> also resigned recently. Bashir’s role was to identify and invest in early-stage companies doing cutting-edge work in areas including AI, machine learning, big data, cloud and analytics. Sikka’s vision is to build tech innovation and get more clients under its fold. Bashir made 12 startup investments and the last investment that Bashir made from the Innovation Fund was in December 2016.

Another setback for Infosys; head of Innovation Fund quits

<ul><li>Shares of <keyword id="6354512" type="General" weightage="20" keywordseo="infosys" source="Orion">Infosys</keyword> plunged as much as 9% today on lower than expected March quarter earnings.</li><li>Analysts have cut down company estimates as the profit margin of the company remains under pressure due to cost pressures led by higher employee costs and a rise in travel costs.</li><li>As a result, shares of other information technology firms also fell today in an already weak market.</li></ul>IT giant Infosys disappointed investors as the stock of the company plunged nearly 9% on poor Jan-Mar quarter earnings. Stable deal wins and lower than the expected profit margin of the company due to cost pressures led by higher employee costs and rise in travel costs among concerns that impacted Infosys stock. Infosys ADR stock, which trades on the US stock market, slipped 14% in previous 5 sessions because of weak earnings at a time when Indian markets were closed due to holidays. “Infosys' 4Q (March quarter) results missed estimates mainly due to muted growth of 1.2% on quarter constant currency. However, its 13-15% revenue growth guidance for FY23 and all-time high net additions reflect a strong demand outlook,” said analysts at Jefferies. After considering the seasonal weakness in the Jan-Mar quarter, Infosys result was still disappointing. “Infosys' growth in 4Q disappointed even considering the seasonal weakness. Muted growth in its top-2 verticals (BFSI and Retail) and top markets (North America and Europe) and a sharp decline in Life Sciences vertical possibly due to one-off contractual issues resulted in the subdued growth performance,” said a report by Jefferies. <div type="image" title="infosys 2" height="900" width="1200" msid="90906620" hostid="261"></div> Besides, Infosys’ attrition worsened more in the March quarter reaching at 27.7% from 25.5% in the previous quarter. The IT major’s attrition rate is worse in the industry compared to other Indian peers, even more than <keyword id="6357150" type="General" weightage="20" keywordseo="tcs" source="Orion">TCS</keyword>’ attrition rate of 17.4% in the same quarter. Moreover, it expects the attrition rate to decline gradually as it also kicks off hikes from April 1. The market capitalisation of the top company fell to ₹6.8 lakh crore from ₹7 lakh crore last week. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<blockquote class="stocktwits-embedded-post" data-origin="https://core-web-dev.stocktwits.com" data-id="452805371"> $INFY.NSE A major crack has been seen in INFY. Here are some ideas on what you should do! -&gt; For Traders - 1650 Price zone was major support zone which has been broken now &amp; for medium term the Trend has become bearish. Any rise to 1650 will be a clear Sell. -&gt; For Investors - This is the Right time for Investors to kick in because $INFY is the Investors darlings and you must consider that it is available on discount. The management of the company is same, the product, the environment is the same &amp; it is the best time to average out Infy &amp; hold it for next few years! Here, what you can see is that Infy is Bearish on the medium term trend &amp; amazing BUY for Investors as a Great company is available for Good prices! &mdash; (@Tradingmonks) <a href="https://core-web-dev.stocktwits.com/Tradingmonks/message/452805371"> April 18, 2022</a></blockquote><script async src="https://core-web-dev.stocktwits.com/min/widgets.js" charset="utf-8"></script>]]></cdata></div> Moreover, analysts expect the share price of the company to rise more as the demand outlook for the future remains strong. As of 11:27 p.m. shares of the company stand at ₹1,621 per share, down by 7.29%. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage house </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JM Financial </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,970 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CLSA </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,040 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jefferies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,135 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Credit Suisse </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,050 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/extreme-poverty-in-india-declined-12-in-the-last-decade-says-world-bank/articleshow/90905593.cms">Extreme Poverty in India declined 12% in the last decade, says World Bank</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/exim-bank-recruitment-2022-checkout-vacancies-eligibility-criteria-and-other-details/articleshow/90904895.cms">Exim Bank recruitment 2022: Checkout vacancies, eligibility criteria and other details</a>

Infosys slides 9% on poor March quarter earnings, other IT stocks follow suit

New Delhi, Jan 12 () Quarterly earnings, inflation data and the much-awaited US-China trade deal signing would drive the equity markets this week, according to analysts.
 "Market wants to look forward where Q3 earnings and pre-Budget movement will be the theme of this week. In terms of earnings, Wipro, IndusInd Bank, Reliance Industries, HCL Technologies and HDFC Bank will be key companies that will post their Q3 results this week," said Santosh Meena, Senior Research Analyst, TradingBells.
 He added that Infosys shares may react positively on Monday after the company's audit committee gave a clean chit to the management on allegations of misconduct.
 Infosys on Friday said the board's audit committee has completed the independent probe into the anonymous whistleblower allegations and found "no evidence" of financial impropriety or executive misconduct.
 The IT services major reported a 23.7 per cent rise in consolidated net profit at Rs 4,466 crore for the December quarter. The earnings were announced after market hours on Friday.
 "Markets will first react to IT major Infosys results in the early trade on Monday. Meanwhile, volatility would remain high on the stock-specific front due to prevailing earnings season and global uncertainty," said Ajit Mishra, VP - Research, Religare Broking Ltd.
 Among macroeconomic data announcements, retail and WPI inflation numbers will be released on Monday and Tuesday, respectively.
 On the global front, with US-Iran tensions cooling off, focus will largely shift to the upcoming US-China trade deal signing.
 Kotak Mahindra Asset Management Company, Senior VP and Head of Equity Research, Shibani Kurian said, "From here on, the equity markets would focus on the upcoming Union Budget and also RBI policy at the start of February. Markets would also take cues from the Q3 FY20 earnings season with key focus being on management commentary on business outlook."
 Markets would on Monday may also react to industrial production data which was announced post market hours on Friday.
 The country's industrial output grew 1.8 per cent in November, turning positive after three months of contraction, on account of growth in the manufacturing sector.
 "Markets are heading for testing times given that the result season has set in and Budget parleys too will have to be digested in weeks to come. Volatility is expected to increase, although prices are not expected to move much till Budget. However, sector specific rallies are likely to continue," Jimeet Modi, Founder &amp; CEO, SAMCO Securities &amp; StockNote said.
 During the last week, the Sensex advanced 135.11 points or 0.32 per cent. SUM ABM
ABM

You Searched For "infosys results" and got 14 results

Infosys sees 4-7% revenue growth in FY24 after it misses its FY23 guidance

Rounak Jain

Infosys raises revenue guidance for FY23 to 16-16.5%, revenue growth beats analyst expectations

Rounak Jain

Infosys reports 4% revenue growth in constant currency, announces ₹9,300 crore worth buyback of shares

Rounak Jain

It is attrition rates and not the wage hikes dampening Indian IT cos earnings

Rounak Jain

Infosys reports a sequential decline in net profit, but increases revenue & margin guidance for FY23

Rounak Jain

Infosys becomes the first Indian IT major to pull out of Russia, announces $1 million humanitarian aid fund

Rounak Jain

Infosys shares tank over 9% post a disappointing Q4, analysts caution demand moderation ahead

Rounak Jain

Infosys had a great year but CEO Salil Parekh expects the next one to be more than twice as good

Prabhjote Gill

Infosys shares surge after Q2 results, ₹9,300 crore buyback announcement

Rounak Jain

The key thing to watch out for during Infosys earnings will be the size of the new deals

Prabhjote Gill

TCS, Infosys, Wipro, Vodafone Idea, Tata Tele and other hot stocks on January 12

Rounak Jain

Another setback for Infosys; head of Innovation Fund quits

BI India Bureau

Infosys slides 9% on poor March quarter earnings, other IT stocks follow suit

Bhakti Makwana

Markets to eye earnings report card, inflation, global events this week: Analysts

PTI