Hold IT stocks, says Ambareesh Baliga

Baliga told CNBC-TV18, “The best is behind most of the IT majors and from hereon the growth could in fact taper off and again we are clearly seeing those billing pressures and whatever rupee depreciation we have seen is already there in the price. So there is nothing too positive to look forward to. At every rise at least in the last 6 to 8 months I have been saying it’s time to exit IT. But right now at these levels possibly people can hold on because most of the IT stocks have corrected, especially stocks like Infosys . So at these levels possibly one can hold on.”

Infosys's trailing 12-month (TTM) EPS was at Rs 129.58 per share. (Mar, 2012). The stock's price-to-earnings (P/E) ratio was 18.73. The latest book value of the company is Rs 518.21 per share. At current value, the price-to-book value of the company was 4.68. The dividend yield of the company was 1.94%.