Buy Infosys on declines: Gaurav Doshi, Morgan Stanley PWM

In a chat with ET Now, Gaurav Doshi, VP Equity Specialist, Morgan Stanley PWM, share his views on various stocks.

ET Now: At these levels does it make sense to switch out of TCS and buy Infosys?

Gaurav Doshi: I think you have hit the nail on the head. A lot of traders are looking to go long Infosys given its over sold position. Simultaneously go shorter TCS/Wipro which are clearly showing signs of breaking down and be weak. On one hand a lot of traders give you the movement in Infosys and on the other, there is a valuation arbitrage which we have taken advantage of. However, one does not need to be in any hurry. TCS is a good stock and will come back. One should not be switching over but a little bit of a valuation mismatch is providing this opportunity to switch.