Is A Downturn Overdue? Infosys Limited (INFY), ICICI Bank Limited (IBN)?

    The shares of Infosys Limited (NYSE:INFY) has been pegged with a rating of Buy by Citigroup in its latest research note that was published on July 12th, 2019. Citigroup wasn’t the only research firm that published a report of Infosys Limited, with other equities research analysts also giving their opinion on the stock. Nomura advised investors in its research note published on April 15th, 2019, to Reduce the INFY stock. The stock had earned Equal-Weight rating from Morgan Stanley when it published its report on April 15th, 2019. The stock was given Hold rating by Investec in its report released on April 15th, 2019. Credit Suisse was of a view that INFY is Underperform in its latest report on April 15th, 2019. Citigroup thinks that INFY is worth Neutral rating. This was contained in the firm’s report on April 15th, 2019.

    The consensus currently stands at a Hold while its average price target is $11.42. The price of the stock the last time has raised by 32.70% from its Week high price while it is raised higher than its 52-Week low price. A look at the stock’s other technical shows that its 14-day RSI now stands at 65.23.

    The shares of the company added by 3.55% during the trading session on Wednesday, reaching a low of $11.41 while ending the day at $11.68. During the trading session, a total of 18.43 million shares were traded which represents a -82.88% decline from the average session volume which is 10.08M shares. INFY had ended its last session trading at 11.28. Infosys Limited currently has a market cap of $48.63B, while its P/E ratio stands at 23.31, while its P/E earnings growth sits at 4.08, with a beta of 0.49. Infosys Limited debt-to-equity ratio currently stands at 0.07, while its quick ratio hovers at 2.10. INFY 52-week low price stands at $8.80 while its 52-week high price is $11.64.

    Investment analysts at Morgan Stanley published a research note on January 16th, 2018 where it informed investors and clients that ICICI Bank Limited (NYSE:IBN) is now rated as Overweight. Nomura also rated IBN as Downgrade on April 15th, 2019, with its price target of $16 suggesting that IBN could surge by 29.93% from its current share price. Even though the stock has been trading at $10.75/share, analysts expect it to surge higher by 0.84% to reach $15.47/share. It started the day trading at $10.96 and traded between $10.82 and $10.84 throughout the trading session.

    A look at its technical shows that IBN’s 50-day SMA is 11.86 while its 200-day SMA stands at 11.03. The stock has a high of $12.65 for the year while the low is $8.07. The company’s P/E ratio currently sits at 31.15, while the P/B ratio is 2.15. At the moment, only of ICICI Bank Limited shares were sold short. The company’s average trading volume currently stands at 5.88M shares, which means that the short-interest ratio is just 2.05 days. Over the past seven days, the company moved, with its shift of -5.90%. Looking further, the stock has dropped -8.37% over the past 90 days while it gained 3.24% over the last six months.

    Harding Loevner LP meanwhile sold more IBN shares in the recently filed quarter, changing its stake to $681,920,295 worth of shares. Lazard Asset Management LLC followed the path by decreasing its IBN portfolio by -7.01% in the quarter. This means that Lazard Asset Management LLC sold -3,489,575 shares in the last quarter and now controls 46,315,359 shares of the IBN stock, with the valuation hitting $565,510,533.

    Similarly, Invesco Asset Management Ltd increased its ICICI Bank Limited shares by +0.78% during the recently filed quarter. After buying 233,150 shares in the last quarter, the firm now controls 29,968,307 shares of ICICI Bank Limited which are valued at $365,913,028. In the same vein, Fidelity Management Research Co increased its ICICI Bank Limited shares by during the most recent reported quarter. The firm bought 1,101,578 shares during the quarter which increased its stakes to 23,584,650 shares and is now valued at $287,968,577. Following these latest developments, around 62.40% of ICICI Bank Limited stocks are owned by institutional investors and hedge funds.