Positive on JK Lakshmi Cement, hold Infosys: Ajay Bodke

Ajay Bodke of Prabhudas Lilladher told CNBC-TV18, "In ACC, we are expecting around 18 percent growth in earnings this year. Next year, we are expecting, 56 percent growth in earnings for the company. The other stock in cement space we are very positive on is in the midcap space which is JK Lakshmi Cement. The company has commissioned large capacities both last year as well as in the first half of the current year. So, lot of volume growth is coming into play. The company is present in Central India as well as in Rajasthan and is growing good. So, that is one stock where we are very positive. We are expecting a medium-term price target of Rs 400 in JK Lakshmi Cement." "Selling by some institutional investors in Infosys is dictated by the redemption pressures that they face. Hence I wouldn’t read too much into some minor selling even if it is a large holder. We are approaching the stock with the positive frame. We are very positive. It figures among the top buys that we are recommending investors with a medium-term perspective. We are expecting around 17 percent growth in earnings for FY'17 and around say 14-15 percent in next financial year. The company is on track in terms of moving up the value chain and we have full faith in the strategy unveiled by Dr Vishal Sikka. So, we are recommending investors to stay put in Infosys," he added.