Opportunity elsewhere is much better over the IT space: Deven Choksey

In a chat with ET NOW, Deven Choksey, MD, KR Choksey Securities tells if one should invest in Infosys.

Do you think Infosys may actually deliver come Friday, despite all the bad news about a guidance cut that is already in the price?

The bad news is already into the price for Infosys, however, it remains to be seen where exactly they see the growth coming in.

Every time ahead of results there is some amount of short covering coming into the IT counters particularly into Infosys, because the traders always look at the opportunity.

If the company comes out with a direction or a recommendation for acquisition targets, that is where I believe that the current spurt in the price has been,

The IT counters have basically moved up largely because it is expected that some amount of acquisition related activity might be announced by Infosys.

So I am not too confident about buying into the IT at this point of time but still keep my eyes and ears open on the developments which are taking place.

As of now, I would feel that opportunity elsewhere is much better over the IT space in the markets.