Prakash Diwan, Altamount Capital Management advises holding the position in Infosys post strong third quarter earnings.
Prakash Diwan, Altamount Capital Management told CNBC-TV18, "I would continue with the position in Infosys . This is a case of low expectations and the fact that the Q3 numbers turned out to be much better than what was expected. So, every time you have very high expectations, the stock does take a very different trajectory."
He further added, "The other important thing in Infosys which is actually laudable is the fact that without much of restructuring having yet taken place, they have improved margins, they have improved on the dollar side, and they have also had some new client acquisition which doesn't normally happen in this quarter. December is not a quarter where we would see some client additions – they have added 10 more large clients."
"Importantly the rupee is still not at the value it should be. The rupee should probably be at about 65 to a dollar, it is still at 62-63, it is getting stronger. However if that were to happen Infosys will actually end up rewarding you much more than what it has done in this quarter," Diwan said.
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