Lot of steam left in Patni Computer: Pramod Gubbi

Lot of steam left in Patni Computer Systems, says Pramod Gubbi, Director Sales, Noble Group.

Gubbi told CNBC-TV18, "We have been positive on Patni right from the beginning of this year. It had been a hard time convincing investors given how Patni has performed over the last decade or so lagging the rest of the IT services pack. What we did notice was a significant change in the management team right at the top with Jayakumar coming in from Mphasis and rebuilding the rest of the sales team elsewhere in Europe and North America. We saw initially the fruits of that change coming through in terms of margin expansion."

He further added, "Now as we look deeper and deeper there is significant scope for further margin expansion as well as volume growth particularly sales pipeline looking good as the sales team that has been put in place working on those accounts. So while the stock has moved up all the way from sub Rs 200 levels to close to Rs 500. Thanks to a bit of action around takeover rumours beyond that fundamentals we think, there is a lot of steam left in the stock and we continue to remain positive. It’s our best pick in the sector, long side HCL Technologies to a lesser extent."