The whistleblower complaints that accused Infosys CEO Salil Parekh and CFO Nilanjan Roy of unethical practices were "poorly handled" by the company, said Samir Arora, founder of Helios Capital, noting the IT giant "didn’t even defend it".
Arora, however, said that he was not in a position to comment on the price fall and if it is justified as the findings of the probe were still awaited.
He added that whistleblowing should be encouraged particularly in India where "people are so scared to tell anything and we cannot make it public".
Talking about the festive season, Arora said that this Diwali was much better than the last. “I have been bullish from the last month after the government’s announcement on corporate taxes but if I look at it on a day-to-day basis, the margin news is still negative," he said.
About consumption slowdown, Arora said, “In general, I am very bullish and my reason for trying to be negative is to push the government into doing more things and doing them proactively and aggressively.”
“Consumption would have already bottomed out or maybe it was bunched together, but over time, things that are slightly cyclical in nature will solve on their own and you may need a bit of action but not so much,” he added.
Speaking about bets for next 6 months, Arora said, “Right now my bet is on the budget that we have to remove LTCG, we have to cut personal taxes because I do not think these divestments are happening in 4 months.”
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