Moneycontrol
Jan 13, 2017 04:13 PM IST | Source: CNBC-TV18

Buy Infosys at around Rs 900, says Vijay Chopra

Vijay Chopra of enochventures.com is of the view that one may buy Infosys at around Rs 900.

Vijay Chopra of enochventures.com told CNBC-TV18, "Things are quite sketchy when we talk about US. So once the Trump administration swears in on January 20, we have to understand what stance they would have on the outsourcing business. What stance they would have on the visas, how difficult are they going to make it for Indian IT professionals to travel to US and stay there."

"So we have been listening about all this. I think that Trump is a very strong person with strong views. So we have to understand first what kind of headwinds can come from US. If at all, it is not as hard or as tough as we assume right now then I can safely say that US is on a path of recovery. Once it happens, this is the silver lining in the cloud that once US markets and US economy starts looking up, they have the potential to pull up the entire global market because they are the largest consumers."

"We have some kind of a shocker coming from US, so these companies have to rearrange their strategies and rethink and go through their drawing boards and find out new markets and new clients and probably Europe is now on the cusp of coming out of the blues. So they have to find new clients in Europe. There is a lot of domestic push on digital India, so probably we will be seeing a lot of orders coming from domestic markets as well."

"I am not saying that I am fearful when I talk about Infosys but probably the stock can be knocked down further, we can see Rs 900 levels also. But I would be a buyer around those levels because I think that these companies have stayed around for long enough, they are bellwethers and they will find out ways and means to scale up their business, find new clients, find new avenues. The headwinds are strong," he added.

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