3i Infotech has target of Rs 49: SMC Global

3i Infotech has target of Rs 49, says Jagannadham Thununguntla, SMC Global.

Thununguntla told CNBC-TV18, "3i Infotech - as the deal is expected to happen and also technology can be a defensive bet in the current market conditions. As the F&O has expired there is a good chance that again the market will see a rough patch in that backdrop, 3i Infotech kind of tech stocks can be a good defensive bet with a day target price of Rs 49.