Infosys can test Rs 2260: Nomura

Infosys can test Rs 2260, says Ashwin Mehta, IT Analyst at Nomura India.

Mehta told CNBC-TV18, "In Infosys we would not play the turnaround hopes purely on valuations. I think there are some fundamental issues that we had highlighted earlier as well which is that they need to save share within the cost efficiency segment and they have mix issues in terms of the discretionary portions not doing well for them and that’s a big piece of their portfolio."
He further added, "So unless they get a handle on that we would not be playing turnaround hopes. The stock could drift down in our view. In terms of upsides we do not see material upsides. Our target price on the stock is around Rs 2,260."