Infosys Q1 Results: Analysts Not Hopeful Despite Rally in Share Prices
Overview
Infosys, the second-largest IT firm in India, will declare its June quarter results on Thursday. This comes in the backdrop of a strong rally in its shares, making it the best performing stock on the National Stock Exchange. However, despite the added momentum in the stock, financial analysts are expecting weak numbers from the results with projections of 0.5-0.8 percent growth in the Constant Currency revenue.
Expectations for FY24
Analysts are projecting a flattish growth compared to the 4-7 percent suggested earlier for the FY24. They also expect no changes to the operating margin guidance of 20-22 percent.
Market Performance
Infosys has been on an uptrend in the immediate past, making substantial gains in the past month. The stock marked an all-time high last week in the run up to the June quarter results. The IT services giant is likely to remain in the limelight as the market eagerly awaits the updates from the results.
Conclusion
Going by the analysts expectations, Infosys June quarter results are likely to be a dampener. The company stock performance, however, has been nothing but impressive in recent times. Nevertheless, the results and consequent guidance numbers will decide the course of Infosys stock trajectory.
