Infosys - Avoid

 Infosys

Infosys - Avoid

Top Level Exits

Mohit Joshi, President his last date for the company would be June 9, 2023, Infosys said in an exchange filing.

Under Joshi, it reported CAGR of 9 % for the period between FY16-22.

Ravi Kumar S also left the organisation to join CTS

This is second large exit from the company in 3 months. ICICI Securities believe that considering multiple responsibilities that Mohit was handling, the brokerage firm can’t rule out near term vulnerability especially in BFSI , Products space as well as large deal space . “However we do not see long term implications of this event considering second tier leadership already in place at the company,” ICICI Securities said in a note.

Meanwhile, in past one month, the stock has slipped 11 per cent after the closure of open market buyback offer. In comparison, the S&P BSE Sensex was down 5 per cent during the same period.

According to exchange data, Infosys had bought back 60.4 million shares or 1.44 per cent of the total equity capital at an average of Rs 1,539 apiece. The average buyback price was 16.6 per cent below the maximum offer price of Rs 1,850.  

In past one year, Infosys has underperformed the market by falling 25 per cent, as against 2.6 per cent rise in the S&P BSE Sensex.

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Date 28 March 2023

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Federal Bank - Buy for long term

 Federal Bank reported its highest-ever net profit at Rs 804 crore during the quarter ended December 2022, up 54 per cent compared to Rs 522 crore in the same quarter in the previous fiscal.  

PAT was higher by 54% year-on-year.

NII grew by 27 per cent to Rs 1,956 cr for the third quarter of FY23, compared to Rs 1,539 cr in the year-ago period.

advances increased 19% on year to ₹1.7-lakh crore, on the back of 18.1% growth in retail advances.

high-margin products like credit card, personal loans, CV/CE, MSME, MFI, GL

Shares of Federal Bank have delivered a return of 

One year jumped over 49% - Six months - 13% per cent 

One Month - down 5%

One week - down 3%

Year High 143 and Year Low of 83

Brokerage Recommendation : 

HDFC Securities | Rating: Buy | TP: Rs 175 

Axis Securities / ICICI Sec / Motilal Oswal - TP: Rs 170 

Date 28 March 2023

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MSTC - Buy

MSTC

Revenue:

MSTC Ltd’s revenue fell -7.42% since last year same period to ₹183 Cr in the Q3 2022-2023. On a quarterly growth basis, MSTC Ltd has generated -31.92% fall in its revenue since last 3-months.

MSTC Ltd’s net profit jumped 13.9% since last year same period to ₹47 Cr in the Q3 2022-2023.

On a quarterly growth basis, MSTC Ltd has generated -26.12% fall in its net profits since last 3-months.

Net Profit Margins:

MSTC Ltd’s net profit margin jumped 23.03% since last year same period to 25.7% in the Q3 2022-2023. On a quarterly growth basis, MSTC Ltd has generated 8.52% jump in its net profit margins since last 3-months.

Returns

One year - down by 17%
6 months - down by 2%
1 month down by 10%
1 week down by 7%
Year High - 386
Year Low - 224

Long Term Investors can wait for Q4 FY 23 results and buy around 230 levels.

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Date 26 March 2023

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