Underweight on largecap IT; have sell rating on Wipro, Infosys & TCS: Karan Taurani

Infosys is in focus as the announcement of Salil Parekh to head the company as the MD and CEO, effective January 2, 2018 was made over the weekend. In an interview with CNBC-TV18, Karan Taurani of Dolat Capital discussed about what could this mean and what are the challenges ahead.

New CEO (for Infosys) will take some amount of transition time to go through. There could be a change in vision. We have to wait and watch as to how the new strategy by the new CEO is executed in the medium-term to long-term, he said.

There may be a minor market share loss for Infosys in the next three-four quarters until the execution takes place, he added.

We are underweight on the largecap IT stocks, said Taurani.

We prefer HCL Technologies, and we have a sell rating on Wipro, Infosys and on Tata Consultancy Services (TCS), he further mentioned.

For full interview, watch accompanying video...