Institutional investment

Infosys Technologies - BUY

We had attended the Analyst Meet organized by Infosys at its Phase II Hinjewadi campus in Pune. While the Infosys management at the analyst meet did indicate that near-term pressure on IT Budgets is expected to continue, we remain confident that in-line with the global economic recovery, demand for Indian IT services will be back to the forefront and companies like Infosys stand to benefit in particular on account of the availability of talent and delivery from a low-cost base. Infosys has always focused on organic growth, maintaining its profitability and creating shareholders value, which the company achieved even during the global economic turmoil in FY2009. We believe the company is well poised to take advantage of the upcoming opportunities and face the challenges through its novel business plans and quality manpower. Thus, we recommend a BUY on the stock.