India’s second largest IT services exporter Infosys Technologies Limited. has announced its Q3 results today, reporting consolidated net profit at Rs.1,780 crore and sales revenues at Rs.7,106 crore, growth of 2.48% & 2.29% resp. on quarter-on-quarter (QoQ) basis. However these numbers were below market’s expectations.
Our view on Infosys stock: After a lot of expectation from infosys result we can conclude that the stock will remain in consolidation after lower than expected Q3 result, but overall we are still bullish in long term in this stock. One can start accumulating this stock in range of Rs.3000 to Rs.3250 for 4 to 6 month target Rs.3650.