TCS, not Infosys, curent flag-bearer for IT industry: Dipan Mehta, BSE and NSE

In a chat with ET Now, Dipan Mehta, Member BSE and NSE, shares his views on quarterly results of Infosys on Friday. Excerpts:

ET Now: What could Infosys do in Friday’s quarterly results?

Dipan Mehta: The benefit of the rupee depreciation should pass through from this quarter onwards; that would show some insight into how currency fluctuation has played out, as far as the quarterly results are concerned.

Infosys is no longer the flag bearer for the IT industry; that mantle has clearly shifted to TCS. Infy is a volatile stock; on the day of announcement, we have a lot of top-level management change as well. Thus, questions like 'what qualitative improvements have taken place?', 'what order wins have taken place?' and other internal numbers will be important.

Markets have been looking out for two trends—firstly, whether rupee depreciation has led to price decline. Secondly, what kind of volume growth is there on account of better trends in the developed worlds.

Thus, one should not extrapolate Infosys' result to what rest of the IT industry will deliver.