| 23. Insight technical 3/22/2010 1:19:58 PM IST |
Price @BSE - Rs 2764.00 when posted |
Infosys
BUY
Price: Rs2,788 Target: Rs3,200 (Mar`11)
CEO meeting notes – Geared for growth
* Client outlook positive, offshoring to increase: We recently met Infosys CEO Kris Gopalakrishnan and came back positive on the medium term growth outlook of the industry. Infosys clients believe the worst is behind them and
banking clients in particular are looking to invest for future growth which could herald revival of discretionary spending. CY10 IT budgets have been finalized for most clients – flat to marginally up, with higher offshore
allocation. Importantly, decisions are being made at a faster pace and deal sizes are increasing for Infosys (US$200mn deal signed recently). To cater to the increased demand, Infosys is hiring in full swing – 19k fresher offers
already made for FY11 (10k in the current qtr). With only ~120 clients from the Fortune 500 list, Infosys sees tremendous scope to widen its client reach and drive revenue growth in the medium-term.
* Vendor consolidation working in favor of tier-1 companies: Infosys CEO indicated that most large clients are looking to work with 3-5 strategic partners to drive efficiency. Almost all such deals have 1-3 offshore vendors,
which we believe is a favorable trend, manifested in two recent publicly announced vendor consolidation exercises at Telstra and British Petroleum. Infosys believes its ability to compete with global vendors has increased and this is manifested in higher win rates.
* Demand is not fully back, upside still there: The deal pipeline has not fully revived for transformational deals; however, strategic sourcing deals have revived. Revival in transformational deals in CY10 can accelerate revenue
growth trajectory for FY11/12, in our view. Slowdown has accelerated demand for new business/pricing models, platform/IP driven solutions and we believe investments made in CY09 keep Infosys well positioned.
* Infosys is our top pick; earnings upgrade to support valuations: We believe QoQ revenue growth will further accelerate from the current 5-6% trajectory and significantly surprise consensus. In our view, stocks are likely to trade above historical average multiples in an earnings upgrade cycle. We reiterate positive stance on the sector and prefer large caps (Infosys, TCS and Wipro all rated BUY). Our price target of Rs3,200 is based on 21x FY12 EPS. |
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| 22. sudarshan 1/14/2010 3:27:21 AM IST |
Price @BSE - Rs 2686.25 when posted |
IT services & products are likely to see very good time for the next 2-3 years and year 2010 will be very good for them.
BUY: Infosys, Wipro, TCS and OFSS.
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| 21. Insight technical 12/3/2009 11:47:07 AM IST |
Price @BSE - Rs 2398.3501 when posted |
Infosys Technologies
Buy
Price: Rs2,396 Target Price (Dec 10): Rs2,727
Acceleration ahead
* Revenue outlook on vertical basis is strong, per management:
a) Banking vertical (34% of revs) will do exceedingly well in FY11, b)
Retail (14% of revs), energy & utilities (6% of revs) vertical continue
to do well, c) Telecom service provider (16% of revs) is likely to do
well (largest telecom client has stabilized) & d) Manufacturing vertical
(19% of revs), though may lag recovery will contribute to growth. We
note that the revenue outlook for key verticals is significantly better
than the 0-1% q-o-q revenue growth guidance for December qtr.
* Management comments on discretionary spending and pricing
are encouraging: Infosys management has indicated customer`s
willingness to increase discretionary IT spending – this augurs well for
FY11E growth. While this trend may now be limited to few verticals
(BFSI, Retail, Healthcare etc), it may spread to other verticals, going
forward. Also the pricing environment has stabilized, and pricing is
unlikely to decline from current levels. Stable pricing (JMF estimate 2%
decline in FY11E) is an upside risk to our and consensus estimates.
* Infosys is investing for future growth: Infosys sales & marketing
headcount over FY08-10E will increase by ~50% against revenue
growth of 11-13%, indicating significant investments for future growth.
Infosys has hired CEO for the government practice, hired country head
for Germany and started subsidiary in Brazil, all steps towards
expanding the addressable market and drive future growth.
* Reiterate Infosys as our top pick; remain buyers of Indian IT:
As highlighted in our note on Infosys titled “Powering ahead” we
believe that revenue growth is likely to surprise in FY11/12E. Infosys has the highest margin buffer compared to peers which should result in superior EPS growth. In our view, Infosys is best positioned to benefit from demand resurgence in FY11E, with front loaded investments in sales & marketing, employees and new markets. This coupled with low expectations c.f. peer group is an ideal recipe for out performance. Our price target of Rs2,727, is based on 20x 1 year forward EPS. |
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| 20. Insight technical 11/24/2009 11:42:56 AM IST |
Price @BSE - Rs 2415.6499 when posted |
Infosys Technologies
Buy
Price: Rs2,407 Target Price (Dec 10): Rs2,727
Infrastructure Management – Scaling up
* Infosys` Infrastructure management services (IMS) practice has
consistently outgrown peers in the past 3 years. Importantly, the
EBITDA margins are in-line with company average and significantly
higher than peers, highlighting Infosys` ability to grow new
businesses` at superior margins. With our channel checks pointing
towards acceleration in revenue growth trajectory, Infosys is likely
to outperform, in our view. Retain Buy on Infosys.
* Infrastructure management services (IMS) practice – a
revelation: Contrary to perception of Infosys lagging peers in IMS, we
are positively surprised by a) absolute size of IMS practice
(US$141mn, second largest after Wipro) & b) 10.1% compounded
quarterly growth rate achieved in the past 3 years. Adjusted for the
India business and acquisitions made by peers, we reckon, Infosys IMS
practice may be the largest in the industry.
* Margins at IMS in-line with company average: EBITDA margins at
IMS practice are in-line with the company average (~34%); dispelling
notion of lower margins in new service lines.
* Superior business model driving growth: a) Infosys ability to
convert capital expenditure to operating expenditure, b) transparent
and flexible pricing structure, & c) alliances with hardware and
software vendors. On the back of superior business model, Infosys has
been able to replace global incumbents from existing contracts.
* Revenue growth likely to surprise in FY11/FY12: As highlighted
in our note on Infosys titled “Powering ahead” we believe that revenue
growth is likely to surprise in FY11/12E. Infosys has the highest margin
buffer compared to peers and this should result in superior EPS
growth. We reiterate Buy with a price target of Rs2,727, based on 20x
1 year forward EPS. We remain buyers of tier-1 Indian IT. |
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| 19. insight 11/13/2009 12:01:34 PM IST |
Price @BSE - Rs 2365.20 when posted |
Infosys Technologies
Buy
Price: Rs2,306 Target Price (Dec 10): Rs2,727
Power of cash flows
During slowdown (1QFY09-2QFY10), Infosys has maintained a
steady growth in cash flows (~40-45% y-o-y), despite a significant
decline in revenue and profit growth trajectory. Free cash
generation increase is driven by a) increase in EBIT margins by
~270bps & b) efficient working capital management (DSO down to
56 days from 72 days). Buy the cash machine for a ~20% absolute
upside.
* Receivables declined by 15% in past 6 quarters: Infosys absolute
receivables declined by 15% over 4QFY08-2QFY10, a testimony to
quality of client relationships and operational efficiency. Notably, this
was achieved in an extremely difficult economic environment. Further
encouraging is the fact that DSO for banking clients was ~30 days
against company average of 56 days.
* Free cash generation has remained steady: Infosys FCF growth
has remained steady at 46% y-o-y on LTM basis against flat revenues
and profits, driven by higher EBIT margins and efficient working capital
management. Infosys FCF generation has witnessed a steady increase
and is currently ~30% of revenues, highest in the industry.
* Revenue growth likely to surprise in FY11/FY12: As highlighted
in our note on Infosys titled “Powering ahead” we believe that revenue
growth is likely to surprise in FY11/12E. Infosys has the highest margin
buffer compared to peers and this should result in superior EPS
growth.
* Underperformance against peers set to reverse: Infosys has
underperformed peers on a relative basis, and this indicates moderate
investor expectations. We believe Infosys stock price
underperformance is set to reverse on the back of strong revenue
growth going forward. We reiterate Buy with a price target of Rs2,727,
based on 20x 1 year forward EPS.
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| 18. Nxcijtji 7/10/2009 8:10:32 AM IST |
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| It`s serious |
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| 17. Yepvvxdc 5/22/2009 8:01:51 AM IST |
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| Good crew it`s cool :) |
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| 16. Wvimtjug 5/11/2009 8:33:45 AM IST |
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| Punk not dead |
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| 15. Lwqcsgqz 4/25/2009 1:53:59 PM IST |
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| I love this site |
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| 14. Kknqtauj 4/14/2009 6:49:20 PM IST |
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| Jonny was here |
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| 13. Fpykmeji 2/22/2009 9:55:10 AM IST |
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| this is be cool 8) |
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| 12. kk 11/6/2008 5:40:19 AM IST |
Price @BSE - Rs 1320.65 when posted |
Buy Rating from SBICAP Security:CMP : Rs 1,333 Rating : BUY Target : Rs 1,740
Infosys Technologies, India`s second largest IT software services exporter is a trusted brand with a pedigree to
manage the current uncertainties. Among IT companies, we believe that Infosys is the most able and among the
safer bets. Infosys is a good investment opportunity with the stock trading at near multi-year bottom multiples.
Infosys has built a war chest of Rs 78 bn (Rs 136 per share) to take care of downturns. Hence, the company’s capital
expenditure and recruitment plans will prepare it for the next round of upcycle and opportunities. |
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| 11. kk 7/15/2008 7:14:10 PM IST |
Price @BSE - Rs 1556.1 when posted |
Infosys has reported a net profit of Rs13.02bn in the quarter ended June 30, 2008 as against Rs12.49bn in the previous quarter. This translates into a sequential growth of 4.2%. This is much better than expectations of a slight dip Quarter on Quarter. The company's net sales have increased to Rs48.54bn from Rs45.42bn in the January-March quarter. This represents a sequential growth of 6.8%. This is more or less in line with our estimates. The EPS for the quarter is Rs22.71 versus Rs21.79 in the last quarter.
Infosys has also hiked its guidance for the year 2008-09. The company expects its topline to be between Rs212.78-216.22bn. Earnings Per Share (EPS) for the year is expected to be in a range of Rs99.34-101.06. However, the company has not increased its FY09 revenue guidance in dollar terms. |
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| 10. result 4/16/2008 8:03:38 AM IST |
Price @BSE -Rs 1510.8 when posted |
FY08 net sales grow by 20% YoY&&; higher by 1% as compared to our estimates. Growth stands at 6.3% QoQ for 4QFY08.
EBITDA margins contract by 0.2% YoY during the fiscal.
Net profits grow by 21% YoY during FY08, 1.5% QoQ during 4QFY08. FY08 EPS higher by just around 1% as compared to our estimates.
Management estimates FY09 net sales and profit growth at around 20% and 17% respectively.
Recommends final dividend of Rs 7.25 per share and special dividend of Rs 20 per share. Total dividend (including interim dividend of Rs 6 per share) recommended for FY08 thus stands at Rs 33.25 per share (dividend yield of 2.3%).
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| 9. Result 4/16/2008 7:56:22 AM IST |
Price @BSE -Rs 1510.8 when posted |
Infosys FY08 net profit at Rs 4,659 cr.
April 15, 2008 | 09:54 IST Indian IT giant Infosys Technologies Ltd said on Tuesday that its net profit for the fiscal year 2007-08 stood at Rs 4,659 crore (Rs 46.59 billion), up 21 per cent from the previous year when it posted a profit of Rs 3,850 crore (Rs 38.50 billion).
The company reported revenues of Rs 16,692 crore (Rs 166.92 billion) for FY 07-08 as against Rs 13,893 crore (Rs 138.93 billion) in the previous fiscal year. |
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| 8. Sonu 3/4/2008 6:18:45 PM IST |
Price @BSE -Rs 1419.9 when posted |
| Infosys Technologies is reportedly planning an acquisition in Europe and Japan in the price range of $200-$300 million to energise its non-linear business strategy as well as to expand its geographic reach. |
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| 7. Sunil 2/28/2008 6:29:27 PM IST |
Price @BSE -Rs 1599.4 when posted |
Infosys - Rs.1611 /- stop loss- Rs.1500/-
Satyam - Rs.437 /- Stop Loss - Rs.390/-
are looking good on charts and have given a good signal after long
correction for last one years. it appears that better days are ahead
in the two stocks.
stop loss should be strightly followed to minimise your losses.
investors are advise to make their own due delligence before making
any investments decision. the above is only an openion and not an
investment advise. |
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| 6. sunil 1/21/2008 6:11:49 PM IST |
Price @BSE -Rs 1390.20 when posted |
i think this is the time to buy....
the share is at its bottom..... |
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| 5. StockNews 1/11/2008 8:11:51 PM IST |
Price @BSE: 1580.1 Rs when posted |
Infosys Technologies net profit rises 23.80% in the December 2007 quarter Sales rise 15.78% to Rs 3999.00 crore
Net profit of Infosys Technologies rose 23.80% to Rs 1186.00 crore in the quarter ended December 2007 as against Rs 958.00 crore during the previous quarter ended December 2006. Sales rose 15.78% to Rs 3999.00 crore in the quarter ended December 2007 as against Rs 3454.00 crore during the previous quarter ended December 2006.
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| 4. sunil 1/3/2008 6:07:14 PM IST |
Price @BSE: 1713 Rs when posted |
no hopes with this share
i had bought it @2000 :( |
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