Updated Apr 18, 2024 | 09:21 PM IST
Infosys Share Price Target 2024: Hours after announcing their quarterly results, Infosys said that they had received a penalty order of $103,960.24 from the New York City Department of Finance, USA.
In the exchange filing, Infosys said that there is no material impact on financials, operations or other activities of the Company.
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Infosys Share Price Target 2024: Hours after announcing their quarterly results, leading Indian IT giant Infosys has said that the company has received a penalty order of $103,960.24 for alleged late filing or short payment of advance tax installments for the filing period of March 31, 2023, from the New York City Department of Finance, USA.
“This is to inform that the Company has received communication for collection of penalty from overseas authority,” Infosys said in the exchange filing on the BSE.
In the exchange filing, Infosys said that there is no material impact on financials, operations or other activities of the Company. Commenting for delay in disclosure Infosys that the Company was in the process of determining further steps post checking the veracity.
Infosys Share Price Target 2024
Brokerage firm Kotak Institutional Equities Has a BUY rating on the stock. At the CMP of Rs 1,414, the brokerage has set the target price at Rs 1,790 for the Infosys stock.
Infosys Q4 2024 Quarterly Results
During the January-March 2024 quarter, Infosys reported a profit after tax of Rs 7970 crore, much above an ET poll of Rs 6215 crore. The IT major’s consolidated revenue came in at Rs 37,923 crore versus estimates of Rs 38,750 crore. Infosys’ dollar revenue in Q4 FY24 stood at $4564 million.
Infosys board of directors has announced a final and a special dividend for the quarter. “Recommended a final dividend of Rs 20/- per equity share for the financial year ended March 31, 2024 and additionally a special dividend of Rs 8/- per equity share,” the company said in the exchange filing on the BSE.
Infosys Share Price History
Infosys commands a market cap of Rs 5,89,651.48 crore on the BSE. The company is a constituent of the S&P BSE Sensex index.
As per the BSE analytics, Infosys stock has dropped 5.72 per cent in the last one week, 11.34 per cent in last one month, 1.40 per cent in the last six months, while it advanced 12.66 per cent in the last one year.
Shares of Infosys has offered a return of 5.03 per cent in the last three years, 98.29 per cent in the last five years and 256.26 per cent in the last ten year, as per the BSE data.
Shares of Infosys were quoted at 52-week high of Rs 1,731 on the BSE on February 6, 2024, while they were seen at the 52-week low of Rs 1,215.45 on April 25, 2023.
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(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
