External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul>
<li>In Q2FY24, Infosys Ltd (Infy) reported revenue of Rs 38,994 Cr, up 2.8% QoQ and 2.3% QoQ (in CC terms) which stood above our expectations.</li>
<li>The company’s operating profit, too, stood above our expectations at Rs 8,274 Cr, reporting a growth of 4.8% QoQ.</li>
<li>The company’s operating margins, expanded 40bps at 21.2%, largely led by lower operating expenses and a favourable currency mix during the quarter.</li>
</ul>
<p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>


In Q2FY24, Infosys Ltd (Infy) reported revenue of Rs 38,994 Cr, up 2.8% QoQ and 2.3% QoQ (in CC terms) which stood above our expectations.
The company’s operating profit, too, stood above our expectations at Rs 8,274 Cr, reporting a growth of 4.8% QoQ.
The company’s operating margins, expanded 40bps at 21.2%, largely led by lower operating expenses and a favourable currency mix during the quarter.

Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Infosys Ltd. - Results Outperform; Outlook Skeptical

<ul><li>FY23 proved to be the year of volatility and uncertainty for demand across the world.</li><li>Despite this uncertainty and volatility, Infosys performed well and demonstrated its resilient enegmaent with its clients as well as its commitment to customer-centricity amidst these challenging times.</li><li>The company posted industry-leading revenue growth of 15.4% in FY23.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

FY23 proved to be the year of volatility and uncertainty for demand across the world.Despite this uncertainty and volatility, Infosys performed well and demonstrated its resilient enegmaent with its clients as well as its commitment to customer-centricity amidst these challenging times.The company posted industry-leading revenue growth of 15.4% in FY23.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Infosys Ltd - Robust Performance; Challenging Times Ahead in near Term

<div><div><div><div><ul><li>In Q1FY24, Infosys Ltd (Infy) reported revenue of Rs 37,993 Cr, up 1.3% QoQ and 1.0% QoQ (in CC terms) which stood in line with our expectations.</li><li>The company’s operating profit, too, stood in line with our expectations at Rs 7,891 Cr, reporting a growth of 0.2% QoQ.</li><li>The company’s operating margins, remained flat at 20.8%, largely led by lower operating expenses and a favourable currency mix during the quarter. </li></ul></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

In Q1FY24, Infosys Ltd (Infy) reported revenue of Rs 37,993 Cr, up 1.3% QoQ and 1.0% QoQ (in CC terms) which stood in line with our expectations.The company’s operating profit, too, stood in line with our expectations at Rs 7,891 Cr, reporting a growth of 0.2% QoQ.The company’s operating margins, remained flat at 20.8%, largely led by lower operating expenses and a favourable currency mix during the quarter. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Infosys Ltd. - Results Inline; Outlook Skeptical

<ul><li>Unexpected ramp-down in projects in verticals such as Telecom and BFSI</li><li>TCV stood strong in Q4FY23 with eight quarter-high deal wins at $2.1 Bn</li><li>The management is cautious about the outlook in the demand scenario from North America. However, Europe stood comparatively resilient.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Unexpected ramp-down in projects in verticals such as Telecom and BFSITCV stood strong in Q4FY23 with eight quarter-high deal wins at $2.1 BnThe management is cautious about the outlook in the demand scenario from North America. However, Europe stood comparatively resilient.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Infosys Ltd. - Disappointing Results; Outlook Skeptical

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>The near-inevitable happened, but Infosys’ (INFO) Q4 can pass on as an aberration even as macro headwinds persist</li><li>The low probability sequential decline (eight times in the last sixty quarters and four times ex-GFC and Covid quarters) was due to a combination of deal cancellations and deferrals largely centric in NorthAm (BFSI &amp; communication vertical in NorthAm was 70% of the sequential drop)</li><li>So the cut in estimates is a bigger function of the FY23 exit rate rather than the guidance provided (4-7% CC)</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

The near-inevitable happened, but Infosys’ (INFO) Q4 can pass on as an aberration even as macro headwinds persistThe low probability sequential decline (eight times in the last sixty quarters and four times ex-GFC and Covid quarters) was due to a combination of deal cancellations and deferrals largely centric in NorthAm (BFSI &amp; communication vertical in NorthAm was 70% of the sequential drop)So the cut in estimates is a bigger function of the FY23 exit rate rather than the guidance provided (4-7% CC)Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Infosys (Results Review Q4FY23): On the back foot. Downgrade to ADD

India

Infosys Limited provides IT consulting and software services, including e-business, program management and supply chain solutions. The Group's services include application development, product co-development, and system implementation and system engineering. Infosys targets businesses specializing in the insurance, banking, telecommunication and manufacturing sectors.

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Infosys Ltd (INFO IN)

Infosys Ltd. - Results Outperform; Outlook Skeptical

In Q2FY24, Infosys Ltd (Infy) reported revenue of Rs 38,994 Cr, up 2.8% QoQ and 2.3% QoQ (in CC terms) which stood above our expectations.

Axis Direct

Infosys Ltd - Robust Performance; Challenging Times Ahead in near Term

Despite this uncertainty and volatility, Infosys performed well and demonstrated its resilient enegmaent with its clients as well as its commitment...

Axis Direct

Infosys Ltd. - Results Inline; Outlook Skeptical

In Q1FY24, Infosys Ltd (Infy) reported revenue of Rs 37,993 Cr, up 1.3% QoQ and 1.0% QoQ (in CC terms) which stood in line with our expectations.

Axis Direct

Infosys Ltd. - Disappointing Results; Outlook Skeptical

The management is cautious about the outlook in the demand scenario from North America. However, Europe stood comparatively resilient.

Axis Direct

Infosys (Results Review Q4FY23): On the back foot. Downgrade to ADD

The low probability sequential decline (eight times in the last sixty quarters and four times ex-GFC and Covid quarters) was due to a combination...

HDFC Securities

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