Buy Infosys on price corrections: Gopinath Natarajan

Gopinath Natarajan, EVP, IIFL PReMIA in an interview with ET Now talks about Infosys.

What are your thoughts on Infosys Technologies and what to your mind was the root reason why Infosys Technologies on Friday appreciated by about Rs 100 plus?

We have also been bullish on Infosys for a while now but again at a price. What we have seen over the last few months is that the demand scenario does not seem to have deteriorated as much and we have seen this CY11 discretionary spending budget, IT budgets from their clients also increasing by about 4% or so which is fairly in line with what our estimates have been.

The pricing scenario also looks pretty stable whether it is offshore or onside. So going forward, we see OPMs also being maintained and again we are bullish on Infosys but again at a price. We would not rush in and buy at these levels and rather wait for the markets to correct and the prices to correct.