Prakash Diwan of Altamount Capital Management told CNBC-TV18, "Infinite Computer Solutions India has not been on the main stay of most analysts. What caught my eye was the numbers that came through, they doubled their profit; 103 percent growth in profit this quarter on a very phenomenal increase in sales and that was primarily because of a lot of incremental licensing revenue."
"It has been around for 15 years but in the last three years it sharply evolved into a leader of sorts for messaging and mobile and that is where it has worked more towards the telecom vertical than completely with the BFSI which is anyways well fought with the biggies. They have done well and they have a large team of 5000 plus people and delivery centers all across," he said.
"We would believe Rs 250-255 would be a reasonable target for it given the kind of traction that it is showing. It has got cash, it has got very low attrition and good client base; 90 percent of the business comes from the US which is a little bit of a concern as such but if US grows, it becomes an advantage. So, it could be the news for the kind of valuation that it deserves and it could get re-rated a bit."
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