MUMBAI: Infosys, once the beloved of Dalal Street with behemoth reward for investors since its listing in the year 1993, is for the very first time available cheaper than Nifty in terms of forward price to earnings, despite 46 out of 57 brooking houses who track the counter having buy ratings.
While Nifty was trading at 17.8 times its one year forward EPS, Infosys was available at 14.6 times, a significant 15 per cent cheaper than the Nifty. India's largest IT exporter TCS - Tata Consultancy Services trades at 19.17 times its forward PE.
Infosys share price has declined 6 per cent so far this year, as compared to TCS gain of 7 per cent. BSE Sensex gained over 7 per cent since 1st January.
Infosys’ revenue in the June quarter was sharply lower than estimates. The IT company’s current valuation discount to TCS measured on estimated 1 year forward P/E is at 25 per cent, lowest since 14th October.
Infosys is one of the top 500 shares recommended by Dynamic Levels for this quarter amongst the top 1700 stocks listed on NSE owing to the strong fundamentals. The stock opened at Rs. 1047.00 (up by 1.49%) against its previous closing at Rs. 1039.65 and closed at Rs. 1057.40. The 52 week high of Infosys share price is seen at Rs.1,279.30 on 3rd Jun ’16 while the 52 week low is seen at Rs.1,009.10 on 22nd August ’16. The company has market cap amounting to Rs. 238801.85 (Cr) having a book value of Rs. 251.77. The Average Daily Movement of the stock is 25.15 and its average volume for last 20 days is 3793143. The stock yields -3.50% monthly returns and has the PE ratio of 17.18. In order to acquire further information refer to Infosys share price forecast.
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