India's Infosys slips; brokerage CLSA says GenAI growth outweighs deflation risks
BUZZ-India's Infosys slips; brokerage CLSA says GenAI growth outweighs deflation risks ** Shares of Infosys INFY.NS down 2.2% at 1,119.7 rupees
** Brokerage CLSA says Infosys believes market estimates of 2%-4% of deflation due to AI are incrementally being offset by new volume opportunities
** Says GenAI could create $300 billion-$400 billion market by 2030 across six new areas, with overall IT services opportunity up to 15 times larger as AI reshapes white-collar jobs globally
** Says GenAI revenue for INFY is growing faster than the company's average growth rate
** Brokerage reiterates "outperform" rating with PT of 1,512 rupees, a 32% upside to the stock's last close
** Stock trades at forward 12-months PE of 14.68 vs industry median of 18.73
** Twenty-seven of 43 brokerages rate the stock "buy" or higher; their median PT is 1,478 rupees
** YTD, INFY down 30.7% vs 11.3% decline in Nifty 50 Index .NSEI
(Reporting by Abhinav Parmar in Bengaluru)
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