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Emkay Global Financial Services has maintained its hold rating on Infosys Technologies with a target price of Rs 1836 in its August 28, 2008 research report. “For Infosys, we point out that although valuations might appear cheap at <15xFY10E earnings of Rs 117.3, the downside risks to FY10 estimates continue to rise. We remain ‘Neutral’ on the sector. Maintain ‘HOLD’ on Infosys with a price target of Rs 1836,” says Emkay Global Financial Services’ research report.

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