Cautious on Infosys; invest in HCL Tech: Dipen Sheth

Dipen Sheth of HDFC Securities told CNBC-TV18, "We have had a lot of hope in Infosys for sometime now. Quite frankly the recent developments did not inspire us too much, the return of Narayana Murthy with his son in tow. We prefer to be cautious at this point of time."

"On Tata Consultancy Services (TCS) we are concerned about the valuations. What that leaves on the table in terms of the front-lines is HCL Technologies with its heavy focus on the infrastructure management services (IMS) slice. So I would put my money behind HCL Tech and a little more behind Tech Mahindra which is now post-merger with Mahindra Satyam is going to become a USD 3 billion company and invites a rerating at this point of time," he added. Also Read: Morgan Stanley warns Infosys may cut FY14 revenue guidance