Wait for Infosys to declare Q1 numbers before buying stock: Anish Damania, Emkay Global

In a chat with ET Now, Anish Damania, Head-Institutional Equity, Emkay Global Financial Services Ltd, shares his views on Infosys Ltd.

ET Now: If someone is looking to buying Infosys at the current juncture, would you just ask them to wait it out till earnings results are out and then suggest putting their money in?

Anish Damania: Yes, absolutely. If I were to look at the implied volatility, then they are at a highest point today and the market is suggesting a 12% move either ways in Infosys. So, market has already pricing in the fact that there could be moves on either side of the stock and one needs to be prepared for that.

But, given the fact that the environment is okay because of the rupee depreciation, I would not be a buyer if the stock jumps up 15% or goes down 10%. But post the results, if the stock is plus minus 2%, then I would go into the stock. As a house, we are positive on Infosys and have a price target of Rs 2900.