Fri, Jan 17, 2025 9:48 PM
Buy Infosys; target of Rs 2150: Emkay Global Financial
A Flip by Shubhangi Gupta
Infosys shares tumbled close to 6% on Friday as the company's muted outlook after its third-quarter results prompted investors to cut their bets. While Infosys reported decent numbers, the management expects a muted fourth quarter which led to the slide in the stock, said Dharmesh Kant, head of research, Cholamandalam Securities.
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Axis Bank's shares fell 4.4% to ₹992 after the lender posted weaker-than-expected earnings in its December quarter, driven by higher credit costs and loan book concerns. The Bank Nifty index also declined 1.5%, with most of its constituents falling, as investors remain cautious on Axis Bank's inconsistent quarterly numbers and growth prospects.
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Expecting Bharat Electronics’ (BEL) market share to grow in the coming years, domestic brokerage firm Motilal Oswal has shared its optimistic view on the stock, maintaining a ‘buy’ rating on the same with a target price of Rs 360, indicating potential growth of 27.5%. The shares of BEL closed 2.2% higher at Rs 282.15 on the BSE today.
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