Infosys share price: Buy Infosys, target price Rs 1370: Motilal Oswal

Motilal Oswal has buy call on with a target price of Rs 1370. The current market price of Infosys Ltd. is Rs 1318.4.

Infosys Ltd., incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 557920.81 Crore) operating in IT Software sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 26538 Crore, up 5.56 % from last quarter Total Income of Rs 25140 Crore and up 10.95 % from last year same quarter Total Income of Rs 23919.00 Crore. Company reported net profit after tax of Rs 5215.00 Crore in latest quarter.

Investment Rationale
Positive price pattern on daily and weekly scale along with support based buying in IT stocks.

Promoter/FII Holdings
Promoters held 13.2 per cent stake in the company as of June 30, 2020, while FIIs held 30.5 per cent, DIIs 25.4 per cent and public and others 31 per cent.