Though the street is disappointed on tepid performance of Infosys, Dhiraj Agarwal, Standard Chartered Capital Markets holds a different view. According to him, Infosys December quarter result was in-line with their estimates.
In an interview to CNBC-TV18, Agarwal reiterated, "There is no point in reading into 0.50% or 0.25% below or above estimates. Our outlook on IT sector is that the business will continue to do well. There are large number of deals which are coming up for renewal over the next 12 to 18 months." He explained that Infosys has outperformed quite a bit in the last one quarter, so it might see a little bit of subdued performance in the very near-term. "But outlook remains pretty good," he added. Talking specifically about the markets, Agarwal commented index performance is likely to be at 10-15% in 2011. However, he is concerned is that inflation and interest rates are key challenges for markets. Going forward, he thinks that Indian gross domestic product (GDP) growth of 8% can be sustained. Below is a verbatim transcript of his interview with CNBC-TV18Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
