Buy Infosys With Target Of Rs 3000

Buy Infosys With Target Of Rs 3000Technical analyst Sudhanshu Pandey of FRR Shares and Securities has maintained 'hold' rating on Infosys Technologies Limited stock with a target of Rs 3000.

According to analyst, the investors can buy the stock at Rs 2700 with a stop loss of 3-5%.

Today, the stock of the company opened at Rs 2918 on the Bombay Stock Exchange (BSE).

Current EPS & P/E ratio stood at 118.84 and 24.45 respectively.

The share price has seen a 52-week high of Rs 3493.95 and a low of Rs 2565 on BSE.

Country's second largest software services firm Infosys has started the procedure of restructuring its biz sections as it eyes to streamline performances and speed up decision-making processes.

In its novel set-up, the company will have five verticals including four major industry sections and one minor section as compared to the subsisting 8 biz divisions.

Banking, financial services and insurance (BFSI) and construction would carry on as two major biz sections for Infosys.

For January-March period, the company declared a 13.6% increase in its net profit, which stood at Rs 1,818 crore.

"We are trying to create new engines of growth," S Gopalakrishnan (Kris), CEO and MD, said.

The tech major is also making investment in next-gen technologies including Cloud services and Mobility solutions.

In addition, Infosys is also maintaining a close watch on the speedy proliferation of smartphones and tablet PCs.