Infosys shares climbs 1% ahead of Q4 earnings

NEW DELHI: Shares of Infosys climbed 1 per cent in morning trade on Friday ahead of its fourth-quarter earnings, scheduled for later today.

ICICI Securities believes Infosys’ Q4FY19 revenue growth should be strong at 2.4 per cent quarter-on-quarter (QoQ), enabled inter alia by a full ramp-up of the Verizon deal. Unlike peers TCS and Wipro, which may see moderation in BFSI revenue growth, Infosys expects growth in this vertical to remain strong in the medium term.

The brokerage expects Infosys to offer constant currency revenue growth guidance for FY20 in the 8-10 per cent range (vs expected revenue growth of 9 per cent in CC terms in FY19). The recent deal with ABN Amro is expected to enhance growth visibility.

Kotak Institutional Equities expects the company to give an 8-10 per cent revenue growth guidance in constant currency terms for FY2020.

Shares of Infosys traded 1.02 per cent up at Rs 750.75 apiece around 9:40 am on BSE.