Market participants being cautious on Infosys ahead of earnings: Deven Choksey

In a chat with ET Now, Deven Choksey, MD, KR Choksey Securities shares his view on Infosys:

ET Now: What according to you seems to be causing this amount of nervousness on Infosys ahead of its earnings, the stock was down a good percent and a half sure enough there have been senior level exits but that should not be hampering the growth of the company?

Deven Choksey: The market is basically trying to play little bit more cautious at this point of time. Generally, it is understood that having run off this particular stock and seen the kind of run up in last quarter obviously it needs to create further headroom before it goes up.

The last quarter has been a quarter in which relatively less billing days, so from that perspective also market is not wanting to buy afresh into the Infosys at this point of time. May be some corrective downside and you could see once again buying returning back.

I do not think that too much of concern is being assigned to the exodus of the top level executive because it is understood that the corrective strategy which is being implemented for Infosys is going to probably play a bigger role for the company going forward in tomorrow’s time.