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MOSL: Morning India (24/April/18): 1. Infosys; 2. KNR Construction (Corner Office); 3. Banking – NBFC; 4. Pharma Monthly; 5. Metals Weekly

MOrning India (24/April/18): 1. Infosys; 2. KNR Construction (Corner Office); 3. Banking – NBFC; 4. Pharma Monthly; 5. Metals Weekly

 

Today’s top research idea

Infosys: Stability (FY19) à Momentum à Accelerate (FY21); Granular strategy articulated around Digital, Core, Sales and Talent

• On its Analyst Day, INFO's new CEO Mr Salil Parekh shed more light on the four pillars of its strategic plan: [1] scaling agile digital, [2] energizing the core, [3] re-skilling people and [4] expanding localization of talent. INFO's well-articulated strategy in digital, sales,talent re-skilling and localization, coupled with the USD2.79b base of digital revenues, provides a good base to kick-off its next innings.
• With previous distractions behind, INFO's focus is back on execution. That said, on the back of developments of past two years, the company cited that FY19 will be a year ofstabilization, FY20 a year of momentum building, and FY21 a year of acceleration. It, however, refrained from divulging any further details about the implications of this roadmap on its absolute/relative financial performance.

Piping hot news

Mandatory local electric vehicles content likely to be hiked to 70% in 3 years

• The government plans to double the mandatory local content in electric vehicles to 70% in three years and impose heavy duties on imports to ensure that domestic manufacturing gets a big boost from the Rs 8,730-crore proposal to shift public transport to battery-operated vehicles.