Continue to be cautious on Infosys; target at Rs 1060: Elara

In an interview to CNBC-TV18, Ravi Menon, Analyst-IT Services at Elara shared his views and readings on Infosys Q3 numbers.

Menon said that the calendar year 2018 is looking a tad bit better than CY17 for Infosys.

According to him, IT sector is looking at a slight re-rating.

We prefer Tata Consultancy Services (TCS) over Infosys, said Menon.

He further said that a lot of growth for Infosys in December quarter came from platform business. However, unsure about growth certainty in platform business, he added.

TCS has more margin levers versus Infosys, he said.

We continue to be cautious on Infosys; reduce call with a target at Rs 1,060 per share.

For the entire interview, watch accompanying video.