Hold long position of Infosys: Jitendra Mehta

One should hold long position of Infosys Technologies, says Jitendra Mehta, Edelweiss.

Mehta told CNBC-TV18, "With regard to Infosys I do not think it is a good time to exit any long positions. The stock did correct for substantially. It tested its long time support of Rs 2900 before actually bouncing back. It has opened with a slight gap and has left that gap intact, so further bullishness ahead. One should hold long positions here with Infosys."
Infosys trailing 12-month (TTM) EPS was at Rs 107.00 per share. (Dec, 2010). The stock's price-to-earnings (P/E) ratio was 29.61. The latest book value of the company is Rs 383.82 per share. At current value, the price-to-book value of the company was 8.25. The dividend yield of the company was 0.79%. Disclosure: Most of the stocks that we discussed here we would have recommended to our clients.