Infosys can move to Rs 3050-3100, says Nitin Jain

Infosys can move to Rs 3050-3100 and looks a good bet from short to medium term perspective, says Nitin Jain, Edelweiss Securities.
 
Jain told CNBC-TV18, " Infosys came out with spectacular results vis-à-vis the expectations. I think the stock was quite underweight and after that the stock has seen maybe 15-20 percent upside already. We think the stock can continue to move to Rs 3,050-3,100 kind of levels and I think given where rupee is heading that also helps the entire IT pack."
 
He further added, "If you see the entire CNX-IT it is making a 52-week high now, so that also gives you a positive reinforcement on the stock. So I think that looks like a good bet for both short-term and medium-term."
 
Disclosure: Some of these stocks that we are advising can be held in our client portfolios or by management themselves.