5,074 crore profit to Infosys

5,074 crore profit to Infosys: The company will give jobs to 26 thousand freshers this year, will buy back its shares at 25% more price value

This year the IT sector is running fast in terms of hiring. After IT sector giant TCS, Infosys has also announced a large number of new jobs in the current financial year (2021-22). After presenting good quarterly results, Infosys announced to hire 26 thousand freshers. 

Talking about the results, the company has earned a profit of Rs 5,074 crore during January to March. It was Rs 5,193 crore in the third quarter.

The board has also approved share buyback of Rs 9200 crore. The price of one share in the buyback has been fixed at Rs 1750. The company's revenue also stood at Rs 26,311 crore. 

Infosys shares rose 3% to 1,480 on Monday from the possibility of a buyback, which is also the highest level in six years. The stock has gained 11% so far in 2021, while the Nifty IT index has risen by 6.6%.

The promoter and promoter group held 12.95% stake in Infosys as of March 2021, according to exchange filings. All other stakes are held by public, mutual funds, FPIs and financial institutions. TCS, the largest company in the sector, released the fourth quarter. 

The company reported a profit of Rs 9,246 crore during January to March. Revenue also grew by about 10% to Rs 43,705 crore.

Big announcement on new hiring, company will give job to 26 thousand

Infosys has announced to hire 26 thousand freshers during the current financial year (2021-22). There will be 24 thousand people from India and other abroad. 

During the last financial year (2020-21), the company hired 21 thousand freshers. TCS has also said that it will hire more than 40 thousand freshers during 2021-22.

According to the information given to the exchange, 2,59,619 employees were associated with the company till the end of March. At the same time, the attrition rate remained above 15% for the second consecutive quarter. That is, the rate of those leaving the company was more than 15%.

Share will touch new peak, investment advice

According to Chandan Tapadia of Motilal Oswal Financial Services, Infosys has good results. The company has announced a share buyback at Rs 1,750, which is about 25% higher than the current level. This buyback of Rs 9200 crore is 1.23% of the total equity.

He said that the results and the commentary of the board will have a positive impact on the stock. The stock will once again touch the new high on Thursday. Investors will be advised to invest in Infosys shares and if you already have an investment, it is advisable to stay in it.

According to Suyog Kulkarni, senior research analyst at Reliance Securities, the stock may reach Rs 1,920. For this, investors will have to wait for 2 years. It closed at Rs 1,403 on Tuesday, adding that the company had grown by more than 10% in revenue. In addition, the company's stake in the digital business has also increased. In such a situation, brokerage houses can increase their target on the stock.

Networth doubled in three years

The special thing is that from 2018 till now the net worth of the company has doubled. In three years, it has increased from $ 33 billion to $ 69 billion. A big role in this is Salil Parekh, who took over the reins of the company from 2018 onwards. Salil Parekh is the CEO and MD of the company since then.