Karvy Stock Broking Limited has maintained ‘Buy’ rating on Infosys stock with an intraday target of Rs 1950.

According to Karvy, day traders can purchase the stock between Rs 1900-1920 with a strict stop loss of Rs 1870. If the stock market remains on positive track, the next target for the day will be above Rs 1985.

Shares of the company, on Monday (June 9), closed at Rs 1904.05 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 326776. Current EPS and P/E stood at 78.15 and 23.24 respectively. The share price has seen a 52-week high of Rs 2140 and a low of Rs 1212.2 on BSE.

The outlook for the stock is really very strong, and it is expected to rise on the back of huge volumes.

The University of South California (USC) Viterbi School of Engineering and Infosys Technologies, on June 4, announced an agreement to set up Infosys- support research center at USC.

The company has also been granted two patents by the United States Patent and Trademark Office. These patents are in the area of holography and mobile communications.

Moreover, Infosys has decided to invest Rs 5 billion in Orissa for setting up an SEZ in IT and ITeS sectors and take care of children’s mid-day-meal scheme and healthcare services.

The SEZ will be set up in Bhubaneswar. The project will require 50 acres of land. The company has spent Rs 55 million towards its corporate social responsibility.

The company reported a 18.16% rise in profit to Rs 44,700 million for the year ended March 2008 and 5.16% rise of in net profit for the quarter ended March 2008.

Other stocks from the same sector that looks good for short-term trading includes Satyam, TCS, Wipro and HCL Tech.