Infosys Q4 FY23 – What’s the right level to bottom-fish after a complete washout quarter?
A correction of over 12 percent from the current level can be a good entry point for long-term gains
April 15, 2023 / 01:02 AM IST
Infosys Q4 FY23 – What’s the right level to bottom-fish after a complete washout quarter?
The volatility and uncertainty prompted the company to give a guidance for FY24 that is uninspiring and bakes in uncertain outcomes
PRO Only Highlights
- Quarterly performance largely backed by improved realisations
- Medium-term triggers China plus and protectionist measures for tyre industry
- Valuations not inexpensive; but improved medium-term outlook
Highlights An all-round disappointment in Q4 Revenue nosedives thanks to project ramp-down and cancellations Margins decline sequentially by 50 basis points Revenue growth for FY24 guidance pegged at 4-7 percent in CC and margin between 20-22 percent Attrition falls, supply-side pressure easing Stock to correct meaningfully, add on deep-discount at pre-pandemic valuation The Q4 FY23 performance of Infosys (CMP: Rs 1,389 Market Cap: Rs 576,317 crore) shows how quickly fortunes change in a business. In Q3 FY23, Infosys had upped its full-year FY23 revenue guidance to...
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