Prefer Infosys on declines, says Prakash Diwan

Written By Unknown on Jumat, 06 Juni 2014 | 16.03

According to Prakash Diwan of Altamount Capital Management, one may prefer Infosys at lower levels.

Prakash Diwan of Altamount Capital Management told CNBC-TV18, "There is a lot of soul-searching that is happening within  Infosys . People who have been part of the team which was possibly responsible for the slippages is finding itself react to that accountability measures that new management or the new top management would be seeking."

"It is in a way indirect cleansing largely I am painting it with a very large brush and saying it is cleansing mechanism but once this is done, the fresh inflow of talent could pave way for Infosys to take the next growth line. I am not too worried about it, in fact it would be a great stock to look at once it lower into Rs 2,800 zone and you could start buying into it."

At 13:33 hrs Infosys was quoting at Rs 2,970.45, down Rs 67.50, or 2.22 percent.

The share touched its 52-week high Rs 3,847.20 and 52-week low Rs 2,447.45 on 03 March, 2014 and 20 June, 2013, respectively.

Disclosure: Analyst holds the position in Rolta and did recommend the stock to his clients.


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