GetPaidIndia.com

Infosys Q2 profit at Rs 1906 cr, up 10.7%

October 12th, 2011

The 2011-12 Quarter 2 results announcement season has begun today with Infosys announcing its Q2 results today. The Net profit stood at Rs 1906 cr. This translates to about 10.7% rise in profits.

Infosys had a bad session yesterday with the stock dipping 3.17% or Rs. 82.10 to close at 2509.20. Uncertainty of the business from the US and Euro-region is the reason for the IT stocks to be in a skeptical phase. On the other side, the weak Indian Rupee is fueling gains for export oriented companies, particularly the IT, ITES and Pharma sectors.

Prabhudas Lilladher, in its report dated October 12, 2011, says Infosys has beaten the expectations and retains the BUY call. It gave the stock a target of Rs. 3000, an upside of 19.8%. They recommend switch from TCS to Infosys due to lower exposure in Europe and Capital Market.

Microsec has given a BUY call with a target of Rs. 3066

Kotak Securities Private Clients Research, in its report dated Oct 13, 2011 has given a BUY call and gave a target of Rs. 2993. Kotak Institutional Equities has given a target of Rs. 3000.

Bank of America Merrill Lynch feels that Infy was inline in its Q2 and cheered the market by maintaining FY12 revenue guidance on constant currency basis. They have given a BUY call with a target of Rs. 3000.

Nomura has given a BUY call with a target of Rs. 3100.

Entry Filed under: Equity Markets, IT & ITes, Quarterly Results