From Reuters:
"India's Infosys Technologies Ltd beat expectations with a 21 percent rise in quarterly profit thanks to a weaker rupee, and raised its full year guidance on hopes for a revival in outsourcing demand."
As my colleague noted about negativity in the Indian Economy in the previous post.
Indian IT companies seem to be not affected by the slow economy.
Infosys also noted that it will try to find other markets like Europe, Asia and Middle east to avoid the US economic slowdown.
This is their way of diversification.
We currently hold 140 shares of Infosys at the price of $44.07 a share.
We are expecting a target of $46.30 for this stock tomorrow.
GE is still a wild card in this target.
7 comments:
I am strongly agreeing with your analysis. I work for Infosys and I must agree that it is a very good company, it is run by very intelligent people.
How many INFY do you hold?
This is a good stock at a nice price, should go up to at least 50.
How come the stock tanked today, is there something we don't know?!?!?
Look this is the reason the stock went down...
Indian IT companies have been growing at a breakneck pace for the last few years. Revenue growth is slowing, and that is because of a slow down in the larger Indian market. Infosys' growth is high by US standards, but are sub-par by the standards that Indian traders are used to. However, the fact that they are still growing and increasing their profit margins in this kind of a global economy shows that they are a force to be reckoned with. It's a good buy at this price.
I am familiar with this industry, the price should go up to 45$- $60 by the end of the next quarter...
I am newcoming employee and I only have a few stock options, and I own 100 shares on ETrade
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