Infosys to train 50k employees on Nvidia AI stack Infosys share price has significantly underperformed its sectoral index BSE IT and the benchmark Sensex in the last one year. While the BSE IT is up about 21 per cent in the last one year, Infosys share price is up only about 8 per cent. The Sensex has gained nearly 12 per cent in the same period.
But sentiment appears to be improving for Infosys stock as it has shown remarkable gains in the last few months. In fact, if we consider a shorter timeframe of the last three months, the stock is up over 14 per cent while the BSE IT is up 12 per cent and the Sensex is up 4 per cent. On a monthly basis, the stock has been in the green since May this year.
While disclosing its June quarter earnings this year, Infosys significantly reduced its revenue guidance from 4-7 per cent to 1-3.5 per cent for FY24 but retained its operating margin forecast. It underscored that its solid deal pipeline and strong major deal closes placed it well for future development. While the US economy is expected to steer clear of a recession and the likelihood of rate hikes is currently weak, it is possible that most of the downsides for Infosys and other major Indian IT companies have already been factored in.
Also read: Infosys only Indian company in top 100 TIME World's Best Companies list Meanwhile, Infosys will announce its Q2FY24 financial result and interim dividend on October 12. The board of directors meeting of Infosys will be held on October 11 and October 12. The investor call will be held by the company on October 12 prior to the announcement of the result.
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