Buy Infosys For Target Rs 1840: Ashwani Gujral

Buy Infosys For Target Rs 1840: Ashwani GujralStock market analyst Ashwani Gujral has maintained ‘Buy’ rating on Infosys Technologies to achieve a short term target of Rs 1840.

According to Mr. Gujral, interested traders can buy the stock with a strict stop loss of Rs 1685.

Shares of the company, on Thursday (June 18), closed at Rs 1721.45 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 101.58 and 16.95 respectively.

The total volume of the shares traded was 166,085. The share price has seen a 52-week high of Rs 1921 and a low of Rs 1040 on BSE.

Infosys Technologies said that it has filed a prospectus with the US Securities and Exchange Commission to allow the registration of new securities earlier.

According to sources, Microsoft, on June 18, has awarded a $10-million BPO order to India’s second biggest IT company Infosys. This is a 3-year deal for back-end support including data processing.

Infosys Technologies, on June 15, announced that it has launched FinacleTM Direct Banking Solution, a comprehensive solution that backs up the full-fledged branchless delivery of various assets as well as liabilities solutions, via the Internet, mobile or call centre channels.

Infosys Technologies Ltd., on June 11, said the company is making discussions with five to six customers to acquire their technology units.

On June 08, Infosys Technologies said it is planning to establish a software development and back office centre in Brazil later this fiscal.

Infosys Technologies said that it has incurred a capital expenditure (capex) of Rs 630 million in its three loss-making divisions located in China, Mexico and the US last fiscal.

``We have invested Rs 220 million each in Infosys Mexico and Infosys Consulting Inc based in Texas, US, while making an additional investment of Rs 190 million in Infosys China during FY 09``, said S Gopalakrishnan, chief executive officer and managing director (CEO and MD), Infosys.