Infosys is not a trading opportunity now, said market expert Sudarshan Sukhani on Tuesday after the stock came under pressure over allegations of irregularities.
The stock fell 16 percent on Tuesday after whistleblower complaints accused CEO Salil Parekh and CFO Nilanjan Roy of unethical practices for many quarters.
“Once the stock goes into the news, then I don’t like to trade it. So for me, Infosys is not a trading opportunity. Once it stops doing whatever it is going to do today, then only we will consider it," he said in an interview with CNBC-TV18.
Sharing his views on what is moving the market today, Sukhani said, "There are stocks that are now looking very attractive, Larsen & Toubro (L&T) has gone through a deep correction, that correction is over and it is a blue-chip stock, so consider buying it. Also buy REC, it had a handsome rally on Friday and that is probably the end of the bear market."
Here’s everything that we know about the Infosys whistleblower complaint and its potential impact
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