Infosys is the best pick in IT space: Sandeep Singhal, Emkay Global

In a chat with ET Now, Sandeep Singhal, Co-Head Institutional Equity Derivatives, Emkay Global Financial Services, shares his views on Infosys.

ET Now: So at 2725, is Infosys Technologies a good buy, it is trading at about 15 times based on FY12 estimates now?

Sandeep Singhal: Infosys is our best pick in the IT space and we are overweight on FMCG, IT. So, Infosys remains a very good stock to have in the portfolio and one can remain overweight. And mostly, analysts having assumed dollar to be in the range of maybe 48 around for this entire year and it would end up definitely with couple of percentage points up in terms of average because I do not see rupee appreciating back to below 50 kind of a level. That would give you an edge or additional bonus in terms of earnings. So, you are right, this stock is one stock from a 6 months viewpoint really be overweight on the portfolio per se.