Nirmal Bang, one of the leading equity research-cum-broking house, has recommended a buy call on Infosys with a target price of Rs 1870 in 4-5 trading sessions.

In latest research report, the firm said that Infosys is clearly a buy, so investors can accumulate the stock on dips.

In addition, the firm has suggested a support level for the scrip at Rs 1605.

The shares of the company (on June 05) closed the week at Rs 1690.55 on BSE. Current EPS & P/E ratio stood at 101.58 and 17.03 respectively. The share price has seen a 52-week high of Rs 2010 and a low of Rs 1040 on BSE.
 
Infosys Technologies, on June 02, announced that the company has incurred capex of Rs 630 million in its three loss-making divisions in China, Mexico and the US last fiscal.

The company has developed an interactive online portal for advertising service provider Signposter.com, which assist SMEs purchase and manage outdoor advertising.

This new service from Signposter.com is aimed at rasising Signposter.com`s share of the outdoor advertising market.

On May 30, Mr. S Gopalakrishnan, chief executive officer of Infosys Technologies, stated that tech companies will not see a rebound in demand until mid-2010.

Moreover, it is anticipating `flat` revenue development for the computer-services industry in 2009.

Infosys Technologies and its divisions added net of 1,772 employees during the quarter ended March 31, 2009.

The gross addition during the last quarter stood at 4,935 employees.