See limited upside in Infosys, says Sachin Shah

Sachin Shah of Emkay Investment Managers told CNBC-TV18, "Infosys did do better than the subdued expectation after the last Q4 results. So, from that perspective, now there is some hope that things might look a little better as far as Infosys is concerned. But we have got also to understand that if you look at the TCS results, I do not think they were too much above the expectation. And even in case of Infosys, it was more to do with the subdued expectations after the Q4 results.""They have got the topline, the margins have come under some bit of pressure and which is where that trade-off has been consciously done by the management probably and which will probably be the case as we go ahead. So, in spite of good results, what I see is that most of the earnings estimates have not really changed materially. I mean most of the earnings upgrade would be in the range of less than 2-3 percent for FY16 and FY17. So, the worst is behind in terms of the stock price, maybe for the next one or two quarters. But I do not see a very great upside from here on, so there is a limited, we are in that trading zone as far as some of these IT stocks are concerned actually," he added.Disclosure: Analyst own Bajaj Corp and Infosys.