Hold Infosys, may tender into buyback: Gaurang Shah

Gaurang Shah of Geojit Fin Services told CNBC-TV18, "There are two opinions on Infosys, one for those who are holding it. You have no other option but to continue to hold to this stock. That is what we are recommending and go through this painful period of announcement, bad newsflows and the fact that the stock has corrected close to about 15 percent in the last two days since the news of the resignation of Vishal Sikka hit the markets."

"Despite the fact that you have a buyback at Rs 1,150 there is no respite. Today again the stock is down close to about 5 percent. So those who are holding, hold on to it, newsflows in terms of negativity is not going to stop, there are going to be further news flows which are going to be an overhang for the counter moreso, large investors would want to move out."

"If you want to tender it to the buyback, my advice is that you should but it all depends upon the number of retail investors opting for the buyback and what kind of number you have in terms of the proportionate buyback that will happen. So as of now, just hold on to it, tender to the buyback but I would also go to the extent to say that don’t be in a hurry to buy the counter because it has corrected 15 percent. There might be further pressure on fall back of news flows," he added.