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A total of 35,467 shares changed hands on the counter till 12:04PM (IST)

“The visibility of the next five to seven years in some of the contracts gives me a lot of confidence about Infosys maintaining a 15% plus kind of steady rate of growth, continuing for the next five years or so in a very sustainable manner. Any correction in the price or softening of the stock price is a good opportunity to buy into Infosys and TCS.”

As of 30-Sep-2022, promoters held 45.25 per cent stake in the company, while FIIs held 19.3 per cent and domestic institutional investors had 18.04 per cent.

As for Hindalco, most brokerages expect the profit decline to by 30-40%. MOSL pegs reported PAT for the company in Q3 at Rs 2,100 crore, down 31.4%. Meanwhile, KIE pegs the same at Rs 1961.9 crore (down 46.4%) and ICICI Securities at Rs 1,842.5 crore (down 49.9%).

Improvements to our EPS expectations lead us to continue ascribing an OUTPERFORM rating with a target price of Rs 1198.

The stock quoted a 52-week high price of Rs 3698.5 and low of Rs 2334.35.

Due to a recent increase in the stock price and its lower estimates, the brokerage has revised its rating to ADD with a new target price of Rs.1,207 implying a price multiple of 18 on NTM EPS of Rs.67.

On the technical charts, the RSI of the stock stood at 45.84.

The Nifty Realty index closed 0.05 per cent up at 425.15.

The stock quoted a 52-week high price of Rs 1466.0 and low of Rs 1070.95.