Infosys, Tech Mahindra Shares Surge Up to 4% on Accenture Strong Results
Indian IT giants Infosys and Tech Mahindra saw their share prices rally up to 4% today, following the strong quarterly results and improved revenue guidance from their American peer Accenture. The positive sentiment has also spilled over to other IT stocks like Wipro, LTIMindtree, and Coforge, which gained up to 4% in the morning trading session.
Main Points
- 1 Infosys Share Price: Technical and Fundamental Analysis
- 2 Tech Mahindra Share Price: Technical and Fundamental Analysis
- 3 Market Capitalization and Key Financial Ratios of Other IT Stocks
- 4 Factors Influencing the IT Sector’s Share Prices
- 5 Predicted Price Action and Analysts’ Opinions
- 6 Important Levels and 52-Week High/Low
- 7 Investors Stay Updated on Share Performance
Infosys shares reached a day‘s high of ₹1,974.60 on the NSE, making it one of the top gainers on the Nifty50 index. The stock has a current market capitalization of ₹8,15,000 crore. Key financial ratios for Infosys include an earnings per share (EPS) of ₹65.70 and a price-to-earnings (P/E) ratio of 29.82.
The factors influencing Infosys’ share price today include the Accenture effect, hopes of a Federal Reserve rate cut, and the overall positive sentiment in the IT sector. The stock is expected to continue its upward momentum in the coming days, with analysts predicting a potential price target of ₹2,100.
Tech Mahindra’s share price also surged, reaching ₹1,638.20, a 1.94% increase. The company has a market cap of ₹1,28,000 crore. Its EPS stands at ₹54.90, and the P/E ratio is 29.82. The factors driving Tech Mahindra’s share price include the Accenture effect, improved market sentiment, and the overall rally in IT stocks. Analysts expect the stock to maintain its upward trajectory, with a potential price target of ₹1,700.
Market Capitalization and Key Financial Ratios of Other IT Stocks
- Wipro: Market cap of ₹3,00,000 crore, EPS of ₹47.20, P/E ratio of 11.76
- LTIMindtree: Market cap of ₹40,000 crore, EPS of ₹210.30, P/E ratio of 30
- Coforge: Market cap of ₹15,000 crore, EPS of ₹160.50, P/E ratio of 25
The IT sector’s share prices have been influenced by several factors, including:
- Accenture’s strong quarterly results and improved revenue guidance for fiscal year 2025
- Hopes of a Federal Reserve rate cut, which could boost IT spending and business confidence among US clients
- Positive sentiment in the broader market, with the Nifty50 index reaching new highs5
Predicted Price Action and Analysts’ Opinions
Analysts remain optimistic about the IT sector’s future prospects, with Nomura expecting growth to bottom out in fiscal year 2025. Motilal Oswal believes that the most important catalyst for the sector will emerge after the third quarter of fiscal year 2025, when client budgets for calendar year 2025 are finalized. Nuvama’s Vibhor Singhal maintains a positive stance on the sector, expecting a sustainable strong demand environment to drive healthy earnings growth over the next three years.
Important Levels and 52-Week High/Low
Infosys’ 52-week high is ₹2,348 and its 52-week low is ₹1,604. The stock is currently trading at ₹1,943.20, up 2.26% from its previous close. Tech Mahindra’s 52-week high is ₹1,738 and its 52-week low is ₹1,204. The stock is currently trading at ₹1,638.20, up 1.94% from its previous close.
Investors are advised to stay updated on the performance of Infosys, Tech Mahindra, and other IT stocks by regularly monitoring their share prices, financial ratios, and market news. It is also essential to conduct thorough research and consult with financial advisors before making investment decisions.
