Infosys shares slide over 1% on tax notice of ₹32,403 crore
The IT major has claimed that it “paid all its GST dues and is fully in compliance with the central and state regulations on this matter”.
The IT major has claimed that it “paid all its GST dues and is fully in compliance with the central and state regulations on this matter”.
Analysts turned bearish on Wipro and downgraded the IT stock after it guided for -1% to +1% QoQ growth for Q2 FY25.
Infosys shares touched a 52-week high of ₹1,843 today, rebounding 40% against its 52-week low of ₹1,311.60 touched on July 21, 2023.
Analysts seem to be bullish on the IT major’s prospects and have raised target price to up to ₹4,660, against Thursday’s closing price of ₹3,922.70.
The IT heavyweight has maintained an uptrend for the last three sessions and rose nearly 10% during the same period.
Post Q4 numbers, most brokerages remained bullish on TCS, expecting the share price to rise up to 15% to ₹4,700 from the current market price.
The IT major will receive tax refund from the I-T dept for assessment years spanning from 2007-08 to 2018-19.
Tata Sons was looking to offload 2.34 crore, or 0.65%, shares of TCS at a floor price of ₹4,001 per share through block deals.
Extending gaining streak for the fourth straight session, TCS shares rose as much as 2.6% to scale a new peak of ₹4,229.30 on the BSE.
The IT major’s net profit fell 60.6% YoY to ₹510 crore, while revenue from operations slipped 5% to ₹13,101 crore in Q3 FY24.