Infosys a good defensive bet, says Dilip Bhat

Infosys is a good defensive bet at current levels, says Dilip Bhat, Joint MD, Prabhudas Lilladher.

Bhat told CNBC-TV18, “On a macro basis if one were to see what Infosys and TCS are undergoing; one can clearly see that the transition of the management which has happened and the current management doesn’t seem to be fully in grip of the kind of problems and challenges that the industry is facing, not that they are not doing well, but that probably will somewhere lurk round the corner that will continue to cast its shadow.”
He further added, “I don’t expect any great information from Infosys in terms of the volume numbers. Maybe the rupee depreciation would play out but I wonder how mnay people would give a peek to it. Infosys still remains a very defensive bet from the current levels, so if one is playing in the current scenario I think it will be one of the few stocks which you can really own because that has not moved quite a bit. Though last fortnight it has gone up by 7-8%. But I would still bet Infosys more as a defensive bet in the overall scheme of things.”