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 Q1FY25, Infosys Ltd (Infy) reported revenue of Rs 39,315 Cr, up 3.7% QoQ and 3.3% QoQ (in US$ terms) which stood above our expectations.</li><li>The company’s operating profit, too, stood above our expectations at Rs 8,288 Cr, reporting growth of 1% QoQ.</li><li>Its operating margins declined 100bps to 21.1%, which was largely on account of higher utilization, lower onsite expenses, and lower Subcon cost.</li></ul>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.

In Q1FY25, Infosys Ltd (Infy) reported revenue of Rs 39,315 Cr, up 3.7% QoQ and 3.3% QoQ (in US$ terms) which stood above our expectations.The company’s operating profit, too, stood above our expectations at Rs 8,288 Cr, reporting growth of 1% QoQ.Its operating margins declined 100bps to 21.1%, which was largely on account of higher utilization, lower onsite expenses, and lower Subcon cost.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. - Broad-Based Growth; Management Upgrades Guidance for FY25

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>Infosys’ (INFO) performance volatility continued with revenue weakness and uninspiring guidance for next year</li><li>High discretionary portfolio, spending velocity of enterprise clients and elevated third-party costs have increased the volatility</li><li>While the guidance is muted at 1 to 3% CC impacted by a weak exit to FY24E, it still implies sequential growth acceleration</li></ul>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’ (INFO) performance volatility continued with revenue weakness and uninspiring guidance for next yearHigh discretionary portfolio, spending velocity of enterprise clients and elevated third-party costs have increased the volatilityWhile the guidance is muted at 1 to 3% CC impacted by a weak exit to FY24E, it still implies sequential growth accelerationContent 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: Extended Volatility Leading to Delayed Recovery. Maintain ADD

<ul><li>In Q4FY24, Infosys Ltd (Infy) reported revenue of Rs 37,923 Cr, down 2.3% QoQ and 2.2% QoQ (in CC terms) which stood below our expectations.</li><li>The company’s operating profit, too, stood below our expectations at Rs 7,621 Cr, reporting a degrowth of 4.3% QoQ.</li><li>Its operating margins declined 40bps to 20.1%, which was largely on account of higher operating expenses and a wage hike during the quarter. </li></ul>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.

In Q4FY24, Infosys Ltd (Infy) reported revenue of Rs 37,923 Cr, down 2.3% QoQ and 2.2% QoQ (in CC terms) which stood below our expectations.The company’s operating profit, too, stood below our expectations at Rs 7,621 Cr, reporting a degrowth of 4.3% QoQ.Its operating margins declined 40bps to 20.1%, which was largely on account of higher operating expenses and a wage hike 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 - Weakness Continues; Tepid Guidance for FY25

<ul><li>In Q3FY24, Infosys Ltd (Infy) reported revenue of Rs 38,821 Cr, down 0.4% QoQ and 1.3% QoQ (in CC terms) which stood below our expectations.</li><li>The company’s operating profit, too, stood below our expectations at Rs 7,961 Cr, reporting a de-growth of 3.8% QoQ.</li><li>Its operating margins declined 100bps to 20.5%, which was largely on account of higher operating expenses and a wage hike during the quarter. </li></ul>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.

In Q3FY24, Infosys Ltd (Infy) reported revenue of Rs 38,821 Cr, down 0.4% QoQ and 1.3% QoQ (in CC terms) which stood below our expectations.The company’s operating profit, too, stood below our expectations at Rs 7,961 Cr, reporting a de-growth of 3.8% QoQ.Its operating margins declined 100bps to 20.5%, which was largely on account of higher operating expenses and a wage hike 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. - Weakness Continues; Lowers Guidance

Thematic (Sector/Industry)

<ul><li>Infosys: Infosys (INFO) delivered a strong Q2 top-line leading to the anticipated guidance increase for FY25E</li><li>INFO outperformed peers in Q2FY25 on anticipated lines (Infosys update: On your marks, get set…), driven by improved demand in BFSI (seven large deals) and an uptick in short-cycle/small to mid-sized deals</li><li>Management commentary pointed to a stable demand environment and an uptick in discretionary in parts of the BFSI vertical</li></ul>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: Infosys (INFO) delivered a strong Q2 top-line leading to the anticipated guidance increase for FY25EINFO outperformed peers in Q2FY25 on anticipated lines (Infosys update: On your marks, get set…), driven by improved demand in BFSI (seven large deals) and an uptick in short-cycle/small to mid-sized dealsManagement commentary pointed to a stable demand environment and an uptick in discretionary in parts of the BFSI verticalContent 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.

HSIE Results Daily: Infosys, Axis Bank, Wipro, LTIMindtree, Mphasis, Karur Vysya Bank

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. - Broad-Based Growth; Management Upgrades Guidance for FY25

In Q1FY25, Infosys Ltd (Infy) reported revenue of Rs 39,315 Cr, up 3.7% QoQ and 3.3% QoQ (in US$ terms) which stood above our expectations.

Axis Direct

Infosys: Extended Volatility Leading to Delayed Recovery. Maintain ADD

Infosys’ (INFO) performance volatility continued with revenue weakness and uninspiring guidance for next year. High discretionary portfolio,...

HDFC Securities

Infosys Ltd - Weakness Continues; Tepid Guidance for FY25

In Q4FY24, Infosys Ltd (Infy) reported revenue of Rs 37,923 Cr, down 2.3% QoQ and 2.2% QoQ (in CC terms) which stood below our expectations.

Axis Direct

Infosys Ltd. - Weakness Continues; Lowers Guidance

In Q3FY24, Infosys Ltd (Infy) reported revenue of Rs 38,821 Cr, down 0.4% QoQ and 1.3% QoQ (in CC terms) which stood below our expectations.

Axis Direct

HSIE Results Daily: Infosys, Axis Bank, Wipro, LTIMindtree, Mphasis, Karur Vysya Bank

INFO outperformed peers in Q2FY25 on anticipated lines (Infosys update: On your marks, get set…), driven by improved demand in BFSI (seven large...

HDFC Securities

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