Cyient, TCS, Infosys could be IT contra bets: SMIFS' Sharad Avasthi; shares views on jewellery, mid- & small-caps
"IT could be a contra bet and that's one space where we are thinking because of the uncertainty around AI. Some IT stocks have become attractive," Sharad Avasthi told Business Today.
- Feb 11, 2026,
- Updated Feb 11, 2026 10:33 AM IST
Sharad Avasthi, Head of Research (PCG) at SMIFS, sees the information technology (IT) sector as a potential contra bet amid uncertainty surrounding artificial intelligence (AI). He highlighted Cyient Ltd, Tata Consultancy Services (TCS) and Infosys Ltd as potential beneficiaries at current valuations.
"IT could be a contra bet and that's one space where we are thinking because of the uncertainty around AI. Some IT stocks have become attractive. Cyient is something which I've been advocating, but even the frontline counters such as TCS and Infosys at current valuation appeared good contra bets," Avasthi told Business Today on Wednesday.
Jewellery stocks mostly priced in
Sharing his view on jewellery stocks, Avasthi said the sector largely appears richly priced at current levels, with limited upside left in most names.
"I'm not bullish on gold from hereon. And, most of the counters from the jewellery segment are already trading at rich valuations. Maybe P N Gadgil Jewellers Ltd is not there, but rest of the pack is mostly trading at a premium valuation."
Mid- and small-caps seen poised for strong move
Commenting on broader market trends, Avasthi noted that the mid- and small-cap segment has been performing well, supported by largely strong quarterly earnings.
He said, "We are expecting a strong move in mid- and small-cap stocks over the next six to seven months."
Eicher Motors: Hold for 8–12 Months, Target Seen at Rs 8,100
On Eicher Motors Ltd, the market expert advised investors to stay invested, citing further upside potential over the medium term.
"One should continue to hold the stock for expected targets of around Rs 8,000-8,100 over the next 8-12 months."
Sharad Avasthi, Head of Research (PCG) at SMIFS, sees the information technology (IT) sector as a potential contra bet amid uncertainty surrounding artificial intelligence (AI). He highlighted Cyient Ltd, Tata Consultancy Services (TCS) and Infosys Ltd as potential beneficiaries at current valuations.
"IT could be a contra bet and that's one space where we are thinking because of the uncertainty around AI. Some IT stocks have become attractive. Cyient is something which I've been advocating, but even the frontline counters such as TCS and Infosys at current valuation appeared good contra bets," Avasthi told Business Today on Wednesday.
Jewellery stocks mostly priced in
Sharing his view on jewellery stocks, Avasthi said the sector largely appears richly priced at current levels, with limited upside left in most names.
"I'm not bullish on gold from hereon. And, most of the counters from the jewellery segment are already trading at rich valuations. Maybe P N Gadgil Jewellers Ltd is not there, but rest of the pack is mostly trading at a premium valuation."
Mid- and small-caps seen poised for strong move
Commenting on broader market trends, Avasthi noted that the mid- and small-cap segment has been performing well, supported by largely strong quarterly earnings.
He said, "We are expecting a strong move in mid- and small-cap stocks over the next six to seven months."
Eicher Motors: Hold for 8–12 Months, Target Seen at Rs 8,100
On Eicher Motors Ltd, the market expert advised investors to stay invested, citing further upside potential over the medium term.
"One should continue to hold the stock for expected targets of around Rs 8,000-8,100 over the next 8-12 months."