Infosys Buyback price: Anil Singhvi says right levels to buy stock is Rs 1280-1310
Infosys Buyback price: The Infosys buyback offer at Rs 1750 is at a premium of 25 per cent exactly as Zee Business research had indicated. The Bengaluru-based IT company announced the buyback offer on Wednesday. It posted weaker than expected Q4 FY21 results. The prices may see a further fall creating opportunities for the investors to make fresh positions. This is what is recommended in Infosys shares
Infosys Buyback price: The Infosys buyback offer at Rs 1750 is at a premium of 25 per cent exactly as Zee Business research had indicated. The Bengaluru-based IT company announced the buyback offer on Wednesday. It posted weaker than expected Q4 FY21 results. The prices may see a further fall creating opportunities for the investors to make fresh positions. This is what is recommended in Infosys shares.
Zee Business Managing Editor Anil Singhvi said that there was no doubt that the quarterly results were weak this time in terms of expectations from the markets. This was the reason why many IT stocks saw profit booking at top levels. The buyback is worth Rs 9200 cr. The Market Guru show had predicted that Infosys stock would open down today. It was down by almost 3.6 per cent at 12:54 pm on the NSE and was trading at Rs 1346.20.
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Infosys has given a strong guidance for FY22 and the levels of Rs 1750 will act as a strong support for this stock, he added. The estimates made by the channel have been in line with the buyback offer, the Managing Editor said. The expectation for buyback size was higher, somewhere between Rs 11,000 and 12,000 cr, he said.
Watch Zee Business Tweet Video Below:
एक बार फिर बायबैक पर परफेक्ट एक्सक्लूसिव रिसर्च...
इंफोसिस ₹1750/शेयर के भाव पर करेगा बायबैक...
अनिल सिंघवी- कमजोर नतीजों के चलते गिरावट संभव, निवेशक बायबैक के लिहाज से ₹1280-1310 की रेंज में गिरावट पर जरूर करें खरीदारी...#EditorsTake #ResultsOnZee #Infosys @AnilSinghvi_ pic.twitter.com/79DwX0JSTy
— Zee Business (@ZeeBusiness) April 15, 2021
Nevertheless, the weaker than expected results coupled with the price correction in Infosys shares is a good opportunity for investors to buy the stock, Singhvi said. The right levels to invest in this stock are in between Rs 1280 and Rs 1310. Investors should start accumulating this stock at these levels.
Historically, it has been seen that the stock prices usually go up from the buyback levels. The pressure on the IT stocks that started on Tuesday will give opportunities to buy this stock at lower levels, Singhvi said.
This advice is for investors and not the traders, Singhvi clarified. You can sell it during the buyback to book profits or can also hold this stock with a long term perspective.
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