The announcement of better-than-expected quarterly results by global IT giant Accenture has raised hopes that the future of IT companies is bright. Accenture’s quarterly results lead to strong IT stocks. The IT sector is becoming more attractive to investors. Infosys is a preferred stock for those looking to invest in the IT sector.
Infosys, one of the largest IT companies in India, does business in over 50 countries. Infosys is a company with a strong customer base. The majority of Infosys customers are in the United States and the United Kingdom. The company is experiencing strong growth in sales and profits. The company’s excellence in governance has always been a feature of Infosys.
Although the sector is heavily dependent on exports, strong demand from the domestic market also exists in the IT sector. Infosys provides business and technology consulting, application services, system integration, product engineering, software development and other related IT services.
IT companies, including Infosys, are expected to do well in business by 2020. This was also reflected in the performance of these stocks. The Nifty has gained 12 per cent over the past one year, while Infosys has gained 62 per cent.
Infosys reported strong revenue growth in the July-September quarter of the current fiscal. The company had a net profit of Rs.4,845 crore. Profit grew by 20.5 per cent. The company had posted a net profit of Rs.4,019 crore during the same period last year. Infosys is more attractive for its generous approach to investors through buy-back offers.
Infosys is a great stock to consider for those looking to invest in the IT sector. Shares of Infosys are expected to be priced at Rs 1,350 for the financial year 2020-21. This is an ideal stock for high risk investors.
