Sell Infosys, prefer TCS: Mukul Garg

Mukul Garg of Societe Generale told CNBC-TV18, "Tata Consultancy Services (TCS) definitely foresee a better risk reward. We have a sell on Infosys. We think Infosys is going to struggle in the near term to match expectations of the investors. The company still has a long way to go in terms of investments into the near both delivery side and demand side. You have digital, you have automation and artificial intelligence (AI) and the company still has some space to catch up. Whereas TCS has been the leading spender in these area. So Infosys should see impact on the profitability because of that. Hence we are slightly more positive on TCS."

At 12:38 hrs Infosys was quoting at Rs 995.25, up Rs 9.90, or 1 percent. It has touched an intraday high of Rs 998.15 and an intraday low of Rs 986.15.