Ankur Rudra, VP-Institutional Equities at Ambit Capital told CNBC-TV18, "In Infosys, our target price going into the results was around Rs 2,900. So we are clearly a seller even with an EPS upgrade, we will remain seller. The main concern for us is given FY15, we expect it to be a growth year, we don’t see Infosys being a growth leader there. We see HCL Technologies, Tata Consultancy Services (TCS) and Cognizant continue to be growth leaders.”
“The main worries in terms of what will drive growth, if you are still reducing head count which is still seeing senior leaders depart the ability of participating in that growth and maintaining the valuations is a bit of a challenge for us. Hence we think at this price, given most of the positives are now priced in, we would remain sellers and we would expect profit booking to start,” he added.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
