UBS India neutral on Infosys

Gautam Chhaochharia, UBS India is neutral on Infosys.

Chhaochharia told CNBC-TV18, "We have a neutral rating on Infosys. As a strategy, we are underweight IT services. We have been bearish on this space for a while now, the reason being the declining growth and the outlook on the US."
He further added, "For Infosys, the cut in guidance has been interesting to note for last few quarters. We could still see another cut in guidance even this quarter. What will be more important is not just the trajectory, which the company talks about in terms of broad expectations for this year but also in terms of specific numbers whether they hint at recovery in the growth momentum that they had slipped on. This could very well be a quarter where they could be bottoming out soon in terms of the growth declining."