Infosys ADRs Surge on NYSE, Signalling Investor Confidence. Infosys investors are likely to see a positive turn on Friday, with the company’s share price expected to rise after its US-listed shares (American Depository Receipts or ADRs) witnessed a significant rally overnight. This surge comes on the heels of Infosys Share Price Infosys announcing its financial results for the first quarter of FY25 (April-June 2024).
Infosys Share Price Strong Revenue Growth, Upgraded Guidance Fuel Optimism
Infosys ADRs closed 8.38% higher at $22.50 on the New York Stock Exchange (NYSE) on Thursday. This marks the company’s biggest single-day jump in four years. The positive sentiment reflects investor confidence in Infosys’ performance.
The Indian IT major reported a consolidated net profit of ₹6,368 crore for the June 2024 quarter, registering a 7.1% year-on-year growth. While the net profit declined by 20.1% compared to the previous quarter (primarily due to a tax benefit in Q4FY24), the company’s revenue grew steadily. Infosys‘ Q1FY25 revenue from operations increased 3.7% to ₹39,315 crore compared to the same period last year.
Even more promising, Infosys raised its revenue growth guidance for FY25. The company now anticipates a constant currency revenue growth of 3% – 4%, up from the previously estimated range of 1-3%. This indicates Infosys’ confidence in its ability to capitalize on market opportunities throughout the year.
Market Experts Bullish on Infosys’ Future
Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, commented that Infosys’ results surpassed expectations, particularly with the revised upward guidance. He believes this, along with TCS’s recent performance, signifies a potential revival for the IT sector in Q1.
Tapse also highlighted the positive technical trend in Infosys’ stock. He predicts a potential rise in share price if it breaks above ₹1,733, with a target range of ₹1,825 – 1,850.
Overall, Infosys’ strong Q1 performance, coupled with an optimistic outlook, has instilled confidence in investors. The positive sentiment on the NYSE is likely to translate into a rise in Infosys share price on the domestic market on Friday. Infosys closed the trading day on Thursday with a solid gain of 1.93% on the Bombay Stock Exchange (BSE). The final share price settled at ₹1,759.15 per share.
Important Note: Remember, this information is for informational purposes only and shouldn’t be considered financial advice. Always consult with a qualified professional before making any investment decisions.
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