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Infosys Saga: Is Now the Best time to Buy IT Stocks? - Views on News from Equitymaster
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The Equitymaster Research Digest

Infosys Saga: Is Now the Best time to Buy IT Stocks?
Aug 22, 2017

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No prizes for guessing the top corporate story these days.

Vishal Sikka's resignation as CEO of Infosys was as abrupt as it was disappointing. But it wasn't surprising. Rumors were doing the rounds for a while. After the company started FY18 positively, we were hopeful that things would settle down between the board and the promoters.

Our hope was belied.

CEO Vishal Sikka resigned. Infosys' strategy is now uncertain. What will happen to Dr Sikka's new transformative initiatives?

To find out, we'll have to wait until the board finds a new CEO. The stock will be under pressure until then.

And what about the fundamentals?

Well, it's unlikely that large clients will stop doing business with Infosys. They will likely wait for the new CEO to articulate a vision. They'll want to know if Infosys' goals align with theirs. It's unlikely the new CEO will disappoint them.

Have the StockSelect and ValuePro teams pressed the panic button?

No.

But they're watching the situation carefully.

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