Interest in Infosys Ltd. on the rise: Vineet Bhatnagar, MD, PhillipCapital

In a chat with ET Now, Vineet Bhatnagar, MD, PhillipCapital, shares his views on Infosys.

ET Now: The Infosys promoters have applied for declassification, but there is selling of $1.05 billion worth of stocks. The book is closed as well. The bonus shares hit the markets today. It is already down about 2.5 per cent in the pre-open session. What more is in store for the stock in the near term?

Vineet Bhatnagar: The fact that there was enough demand in the secondary market for the kind of lot that has come out is indicative of the fact that there is still a pent-up demand for this particular name, the erstwhile bellwether for the sector.

A lot of new money — long only money — that is going to come into India will definitely find way into names like Infosys Ltd. and State bank of India. If you like a three-year view, then you must be looking at Infosys. Sikka seems to be making a good amount of news as well. I would imagine that there is interest in the stock for those with a three-year kind of view.