Phani Sekhar, Fund Manager of Angel Broking recommended holding Infosys. He feels there is a lot of margin of safety in the stock.
Sekhar told CNBC-TV18, “There will be good going for Infosys in the future because we do expect the currency to remain weak which is the biggest tailwind. On top of that the kind of sequential improvement that they showed in Q3 is likely to sustain in Q4 and going forward as well. The commentary from the company is likely to be pretty positive towards the end of Q4 for FY14.”
“So considering all that and even at Rs 3000 the stock is just trading at about 16 times as compared to 20 times which TCS is trading at. So there is a lot of margin of safety in Infosys. So the investor can safely hold on,” Sekhar added.