Views on Infosys Update - Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP Research - IT, Angel Broking) on Infosys Update:

"Infosys Ltd has considered and approved to acquire 100% stake in Noah Consulting LLC, head quartered at Houston, Texas (USA). A leading provider advanced information management consulting services for the oil and gas industry, for US$ 70mn. The Company further informed that none of the promoter, promoter groups or group of companies has any interest in Noah Consulting LLC and this acquisition does not fall under the related party transaction. The acquisition is small and would not impact the financials in a big way. We maintain our BUY with a price target of INR 1306."

Shares of INFOSYS LTD. was last trading in BSE at Rs.1125.35 as compared to the previous close of Rs. 1112.2. The total number of shares traded during the day was 170023 in over 8083 trades.

The stock hit an intraday high of Rs. 1129.8 and intraday low of 1111.6. The net turnover during the day was Rs. 190689541.

Source : Equity Bulls

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