Looking at the results... and the reaction... now, I'm getting interested
There were some good signs of progress in the company from an operational perspective. Banking was no longer the bugaboo. They are increasingly right-sizing the workforce and deploying it better.
The problem was more the macro environment. The potential is there once the global economy stops having reason for defensiveness and alters priorities. This was not INFY specific as others in indian IT outsourcing, as well as Oracle's recent results, would attest.
This is the kind of stock that Warren Buffett would like, if it wasn't so techy that he could wrap his aging brain around it. It's addressing it's operational and service delivery while dealing with a macro environment that is soft but has substantial potential.
If a second wave takes this stock near $40, it becomes a "strong buy" in this contrarian's view...
... for those with at least a 2-year time horizon will be nicely rewarded.