Infosys Q1 earnings: Edelweiss expects lower margins but retains the stock in top picks

On digital growth, he said, “Is it maintaining its momentum of 40 percent or not? I am confident it should maintain that because the demand for digital is high and penetration is very low."

Talking about its performance in the stock market, he said, “Our pecking order has been Infosys for quite some time. Last 2-3 years we have been maintaining Infosys as a top pick and I do not see any reason to change that primarily because Infosys has been late in investing in digital relative to TCS, so there was a gap of few quarters.”

“However, now they have come back strongly and they have invested heavily in the last few quarters on the digital side and on the sales team. So their pain may continue one or two quarter more than what TCS has seen in the past, but we are at the fag end of the pain in terms of all the parameters for Infosys and we should see a turnaround going forward,” Agarwal added.