Karvy Stock Broking Limited has maintained ‘Buy’ rating on Infosys stock with an intraday target of Rs 1930.
According to Karvy, day traders can purchase the stock between Rs 1880-1888 with a strict stop loss of Rs 1850. If the stock market remains on positive track, the next target for the day will be above Rs 1935.
Shares of the company, on Monday (May 26), closed at Rs 1886.40 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 469652. Current EPS and P/E stood at 78.15 and 24.06 respectively. The share price has seen a 52-week high of Rs 2140 and a low of Rs 1212.2 on BSE.
The outlook for the stock is really very strong, and it is expected to rise on the back of huge volumes.
On May 8, Infosys BPO, which started knowledge process outsourcing (KPO) services as a part of its BPO offerings four years ago, is planning to make Gurgaon the hub for its KPO business.
Infosys Technologies, on April 24, plans to establish a new development centre at Kolkata. The campus will see an investment of Rs 5 billion and will create more than 5,000 jobs over a period of time.
Besides, it is also looking for acquiring companies in the BFSI, communication or manufacturing space.
The company reported a 18.16% rise in profit to Rs 44,700 million for the year ended March 2008 and 5.16% rise of in net profit for the quarter ended March 2008.
Other stocks from the same sector that looks good for short-term trading includes Satyam, TCS, Wipro and HCL Tech.