Hold Infosys for long term: Gaurang Shah

Gaurang Shah of Geojit BNP Paribas told CNBC-TV18, "In Infosys we strongly believe that there are good times and most of the downside and negative news flow we believe is already there in the price and is thing of the past. If you look at couple of equations, first of all of course post TCS buyback I think there is highlighted excitement in terms of Infosys buyback offer after being getting announced. Now the company is working for it and possibly in the next couple of days or weeks we will hear good news from that front. If that happens then given the kind of cash component compared to the market cap that Infosys has on the balance sheet, we are quite sure that the level of buyback is going to be more exciting then what TCS is, now this is a hopeful thinking.""Secondly, in terms of earnings visibility, the strategy should be in place and in terms of the sad story that folded in terms of the difference of opinion between the founder members and of course the current management, is now thing of the past. In terms of billing rate and outlook of growth well it may take time, but it is not the end of the road. We believe that both from the buyback as well as from the future growth coming back into Indian IT sector, this is one stock that you can definitely hold for long-term," he added.