As IT midcap stocks ride high, it has created speculation around a potential bubble with analysts picking the midcaps' client concentration as the biggest concern area.
The company's growth was driven by a decline in total expenses, lower finance cost and higher other income.
Possibility of higher growth and relatively cheaper valuations makes Street more positive on Infosys, says Sheetal Agarwal.
Mid-sized IT firms have stepped up hiring in the current fiscal year, adding more than half as many employees in the first quarter of FY19 as compared to the whole of the previous financial year. This momentum is likely to continue for the rest of 2018-19 (FY19) as well.
Mindtree, eclerx and Hexaware are trading at similar valuations to that of the larger peers.
The strategy of returning cash to shareholders through stock purchases could hinder their digital expansion plans
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