Infosys - safest bet, recommend buying: Nischal Maheshwari

Nischal Maheshwari, Head - Institutional Equities at Edelweiss Securities told CNBC-TV18, "Brexit is going to have an impact on most of the large caps and it varies from company to company. I think the worst impacted should be Tech Mahindra which gets 14 percent of its revenue from there. HCL Technologies gets another 13 percent, so does Tata Consultancy Services (TCS) which gets 13 percent. I think Infosys is the safest bet which gets around 6 percent of its revenue coming from there."He said, "We have seen last year that most of these companies lost between 350-450 basis points of revenue and topline basically because of the movements in currencies. I believe that this is a similar event which is happening in the current year, so a growth which we are projecting in the current year of around 10-12 percent for most of these companies could not fall to around 7-8 percent. And then you find that actually the multiples are not different than what we were talking about earlier. It is around 12-13 times now.""That is why I think the worry remains to be there, so I would say that Infosys is a very good bet out there, one can actually look at it. We are very positive about Infosys, they have got the strategy right with very good strong management in place. Buy Infosys in that sector," he added.