Long Term Buy Call For Infosys

Technical analyst Dr VVLN Sastry of Firstcall India Equity Advisors has maintained 'hold' rating on Infosys Technologies Limited stock.

The analyst said that the stock can be purchased to attain a long term target of Rs 4000.

The stock of the company, on April 11, closed at Rs 3239.50 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 3493.95 and a low of Rs 2565 on BSE.

Current EPS & P/E ratio stood at 114.52 and 28.64 respectively.

Analysts are projecting technology giant Infosys Technologies Ltd to anticipate 18-20% revenue growth in dollar terms for the existing financial year (2012), determining the tone for the country's IT space.

As per a report from Standard Chartered Equity Research released this week, "We expect Infosys to guide for 18-20% US dollar revenue growth, ahead of Nasscom's 16-18% for the sector. This should be neutral to stock movement in our view-note the 6-8% outperformance over the last five years."

Brokerage house Sharekhan Ltd is consistent with the 18-20% revenue growth.

"An initial guidance of 18-20% (by Infosys) would hold good for a 28% growth for FY12. Any guidance lower than 18% is likely to upset the Street in the medium term," it said.

IT bellwether would declared its fourth quarter and fiscal year 2011-12 outcomes on Friday (April 15), accompanied by Wipro Ltd and TCS.