NDTV Profit

BSE Code: | NSE Code: | ISIN: | Sector:

Change Change %
6.90 0.61%

Updated:19 Apr, 2018, 15:54 PM IST

Change Change %
7.25 0.64%

Updated:19 Apr, 2018, 16:01 PM IST

Research Report Detail

Report Date Call Price@Call Target Price
Stop Loss
Current Status Time Horizon
22-08-2017 Sell 879.35 875.00
Target Hit Long (1Y)

Nomura downgrades Infosys to reduce

The biggest risk in INFO (in our view), the dispute between board and the promoters, culminated in the resignation of the CEO/MD, Dr Vishal Sikka. We view this news negatively, as: 1) it pushes back turnaround hopes with a new CEO appointment likely to take time; 2) it could hamper longer term growth, if senior management attrition continues, with newer initiatives being headed by external talent (largely ex SAP); 3) management churn at INFO would make clients cautious and competitors more aggressive; 4) FIIs have been incrementally negative at INFO lately on the dispute between promoters and the board and we consider this event would be further taken negatively. We believe other than an imminent buyback there might not be any major triggers to look forward to over the next two quarters.

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