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Infosys shares: Brokerages raise target price post Q3 results

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Infosys shares: Brokerages raise target price post Q3 results

Shares of Infosys surged more than 1% to Rs 1,898 per share in opening trade on Thursday after the IT giant raised its revenue forecast, as it expects revenue to grow 19.5%-20% for the financial year ending March 2022, while It was 16.5% %-17.5% earlier forecast, while retaining its operating margin guidance.

India’s second-largest IT company reported a 12% rise in consolidated net profit to Rs 5,809 crore in the third quarter of fiscal 2022 from Rs 5,197 crore a year earlier, while its revenue rose 23% to Rs 31,867 crore. Revenue growth was strong. With high churn, Infosys managed profit margins well, led by pyramid management. We raise our FY22-24 forecast by 2-4% and expect Infosys to achieve a 15% EPS CAGR in FY22-24. Our top pick,” Jefferies said in a report.

It maintained a Buy rating with a revised target price of Rs 2,270 (from Rs 2,200). “While Infosys continues to outperform in terms of growth, the third-quarter results have inspired greater confidence in its ability to manage profitability. “

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The company posted a profit margin of 23.5% in the third quarter of fiscal 2022, up from 23.6% in the previous quarter. Infosys said growth in the quarter was broad-based, with strong deal momentum and rapid digital transformation across verticals and geographies.

Emkay also maintained a Buy rating with a revised target price of Rs 2,160 (previously Rs 2,100) given the strong earnings momentum and strong demand environment. According to the brokerage, Infosys remains confident of maintaining momentum on the back of broad demand, solid trading volumes and a healthy trading pipeline.

“Q3 FY22 block deal absorption was $2.5 billion (43% new), with 25 block deals signed during the quarter. The deal pipeline remains healthy, with a good mix of new and renewal deals, providing good revenue visibility,” the report said.

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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

Akshay Kumar and Priyadarshan, the acclaimed Indian director, celebrated their 68th birthday on Instagram. Kumar, who has worked with Priyadarshan on several cult comedies of the early 2000s, wished him a happy birthday and called him a mentor. The duo is now back together for their upcoming horror-comedy, Bhooth Bangla.

The first poster of the movie has been released, and it is expected to hit theaters in 2025. Akshay Kumar wore a black fedora and a green jacket, layered over a black tee, and fans have expressed their excitement for their new movie.

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The duo’s dynamic and deep bonding have been praised by fans, who have expressed high anticipation for their new movie. The first poster of Bhooth Bangla has already been released, and the movie is expected to hit theaters in 2025.

Akshay Kumar, the versatile Bollywood actor, recently celebrated director Priyadarshan’s birthday by sharing a behind-the-scenes (BTS) photograph from their upcoming film, “Bhooth Bangla.” In the image, Akshay humorously captioned, “Surrounded by ghosts…” The photo features Akshay alongside Priyadarshan and co-actor Paresh Rawal, all dressed in traditional attire, with a black cat perched on Akshay’s shoulder, adding a whimsical touch to the scene.

Reunion After 14 Years

This collaboration marks a significant reunion between Akshay Kumar and Priyadarshan, who last worked together on the film “Bhool Bhulaiyaa” in 2007. Their partnership has been celebrated in the past for delivering successful comedies like “Hera Pheri” and “Garam Masala.” Fans have eagerly anticipated their return to the big screen together, and “Bhooth Bangla” promises to be a delightful addition to their repertoire.

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About ‘Bhooth Bangla’

“Bhooth Bangla” is a horror-comedy that blends elements of suspense with humor, a genre in which both Akshay Kumar and Priyadarshan have excelled. The film is produced by Balaji Telefilms Ltd in association with Cape of Good Films. The motion poster released earlier this year features Akshay Kumar in a suit, with a cat on his shoulder, licking milk slyly, setting the tone for the film’s intriguing and humorous premise.

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Anticipation and Fan Reactions

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The BTS photo shared by Akshay Kumar has generated excitement among fans, who are eager to see the trio back together on screen. The playful caption and the presence of the black cat suggest that “Bhooth Bangla” will offer a mix of thrills and laughs, staying true to the successful formula of their previous collaborations.

As the release date for “Bhooth Bangla be a significant highlight in the upcoming entertainment lineup. The reunion of Akshay Kumar, Priyadarshan, and Paresh Rawal, combined with the intriguing premise and the playful BTS moments, has set high expectations among audiences. Fans can look forward to a cinematic experience that promises both chills and chuckles.

For a visual glimpse into the making of “Bhooth Bangla,” you can watch the following video Akshay Kumar expressed his gratitude as they once again united for their upcoming movie Bhooth Bangla. This marks a new chapter in their long-standing collaboration since the 2000s. He shared a picture from behind the scenes of their new movie, where it seems like they are laughing about something.

Akshay wrote,”Happy Birthday, Priyan Sir! What better way to celebrate than by spending the day on a haunted set, surrounded by ghosts…both real and unpaid extras? Thank you for being a mentor, and the only person who can make chaos look like a masterpiece. May your day be filled with fewer retakes. Wishing you a fantastic year ahead!”

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