{"id":4759,"date":"2019-04-15T10:06:35","date_gmt":"2019-04-15T10:06:35","guid":{"rendered":"http:\/\/financeintellect.com\/home-page\/home\/?p=4759"},"modified":"2019-04-15T10:07:01","modified_gmt":"2019-04-15T10:07:01","slug":"infosys-shares-increase-by-5-after-q4-results","status":"publish","type":"post","link":"https:\/\/financeintellect.com\/home-page\/home\/infosys-shares-increase-by-5-after-q4-results\/","title":{"rendered":"Infosys shares increase by 5% after Q4 results"},"content":{"rendered":"<p style=\"text-align: justify;\">IT major Infosys reported a jumbled set of fourth-quarter numbers, with margins coming in below expectations even as revenues came in-line. Infosys also reported strong large deal wins during the quarter which came in more than $1.5 billion. Infosys\u2019 guidance for this fiscal starting April 1, 2019, came in below the Street\u2019s estimates. Infosys shares fell as much as 5% in early trade to\u00a0<span class=\"webrupee\">\u20b9<\/span>713. Infosys&#8217; bigger rival TCS, which also reported Q4 earnings on Friday, jumped as much as 3.5% to<span class=\"webrupee\">\u20b9<\/span>2,085.60.<\/p>\n<p style=\"text-align: justify;\">Coming back to Infosys&#8217; fourth-quarter numbers,\u00a0the company reported a strong 2.1% sequential rise in constant-currency revenue, underscoring strong execution and strong order inflows. This is the second successive quarter where Infosys has achieved more than 10% growth year-on-year in constant currency. The Bengaluru-based company said it signed large deals of $1.57 billion during the quarter, taking the cumulative size of deals won to $6.28 billion for the full year. This is twice that of FY18.<\/p>\n<p style=\"text-align: justify;\">In this context, many analysts say that the growth momentum, which picked up in FY19 will continue in FY20. So, they feel Infosys\u2019 guidance of 7.5-9.5% growth in constant currency terms is conservative. Infosys shares declined to as much as 4.7 percent to Rs 712.60 per share intraday on the NSE.<\/p>\n<p style=\"text-align: justify;\">Many analysts, including Citi and Morgan Stanley, downgraded the stock following the Q4 results. HDFC Securities said that Infosys\u2019 softening FY19 margin trajectory (-150bps vs. +80bps for TCS despite INR tailwinds), is expected to continue over FY20 (-160bps erosion). This is derived from an increase in cost of delivery (higher localisation, sub-contracting) and the persistent challenge of high attrition, large deal investments and softness in the core BFSI vertical.<\/p>\n<p style=\"text-align: justify;\">The brokerage downgraded the stock to &#8216;Neutral&#8217; from &#8220;Buy&#8221; and revised the price target to Rs 755 from Rs 805. Morgan Stanley lowered its rating on the stock to &#8220;Equal-weight&#8221; from &#8220;Overweight&#8221;, saying the company&#8217;s Q4 earnings were softer than their expectations. The brokerage cut EPS estimates for Infosys by 2.5 percent and 3.9 percent for FY20 and 21, respectively.<\/p>\n<p style=\"text-align: justify;\">Citi cut its rating on the stock to &#8220;Neutral&#8221;, with a revised TP of Rs790. The weaker than expected margin performance in 4Q and continued high attrition, has lowered its EPS estimates by 3-4 percent.<\/p>\n<p style=\"text-align: justify;\">Even though the ongoing buyback will support, the argument for further narrowing of discount vs. TCS is weaker given that revenue guidance is a bit light and margins keep sliding lower, added Citi.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>IT major Infosys reported a jumbled set of fourth-quarter numbers, with margins coming in below expectations even as revenues came in-line. Infosys also reported strong large deal wins during the quarter which came in more than $1.5 billion. Infosys\u2019 guidance for this fiscal starting April 1, 2019, came in below the Street\u2019s estimates. Infosys shares [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4760,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8],"tags":[3722,185,698],"class_list":["post-4759","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-india-inc","tag-citi","tag-infosys","tag-morgan-stanley"],"aioseo_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Infosys shares increase by 5% after Q4 results - Finance Intellect<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/financeintellect.com\/home-page\/home\/infosys-shares-increase-by-5-after-q4-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Infosys shares increase by 5% after Q4 results - Finance Intellect\" \/>\n<meta property=\"og:description\" content=\"IT major Infosys reported a jumbled set of fourth-quarter numbers, with margins coming in below expectations even as revenues came in-line. 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