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Positive on Info Edge; expect TCS, Infosys to benefit from increased digitisation: O'Neil Global

Updated : July 22, 2021 09:47:45 IST

O'Neil Global Advisors positive on a lot of tech stocks in India including Info Edge India, Randy Watts, chief investment officer (CIO), told CNBC-TV18. Watts also said that companies like Tata Consultancy Services (TCS) and Infosys will benefit from increased digitisation.

“We do like a lot of tech stocks in India. Info Edge, which is one of the owners of Zomato is an interesting company. They are the leader in internet classified ads in India and hold a lot of other great internet companies,” he said.

Watts further said, “We also like Indian outsource consulting firms. There is an increase in software spend in the US, there is also an increase in implementation being done virtually and companies like TCS and Infosys are going to benefit from that.”

According to him, India has opportunities for long-term secular growth stories. “This pandemic (COVID-19) is not over yet. Small investors will be looking for opportunities in the emerging markets and I still think India is one of the best growth stories in the world over the next five years,” said Watts.

Among banks, he mentioned that he likes HDFC Bank, ICICI Bank and Kotak Mahindra Bank.

On global markets, he said, “Some of the inflation is not going to be transitory and the two areas that I think the most are the US, its labour rates have risen for companies to get fully staffed. Right now, they are offering higher wages and that is not going to go back down immediately. The other thing affecting the US is residential rents. They have risen and tend to be stickier as well. Therefore, I am not convinced that we are still going to see a drop off in inflation.”

For the entire interview, watch the video.
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