Buy Infosys, Tata Consultancy Services: Prakash Diwan

Prakash Diwan of prakashdiwan.in told CNBC-TV18, "By and large people are more cautious than despondent at this point for most of the IT plays especially Tata Consultancy Services (TCS) and Infosys. My sense is whatever comes through, if it is not as ugly as what we kind of penciled in when Brexit was staring at our face, that means that there will be an upside in both these stocks is what my feeling is. TCS could also talk about capitalisation of the huge cash that it is sitting on because no more is the environment very conducive for acquisitions." "For the next six months, I don’t think anybody except for L&T Infotech which has been talking about acquisitions as a key focus and you saw what L&T has done with its other business also. They have started looking at monetising given the huge response. So, when promoters want to monetise their assets, it is a peak of sorts for most IT businesses. So, I don’t think you will probably hear announcements related to that," he said. "Infosys to me is kind of on a close to bottom level. You definitely look at buying into it irrespective of results but TCS is looking much more promising from an immediate trading perspective also."