SMC Global Research has selected Infosys Technologies and Mcleod Russel India as fundamental picks. The stock broker gave following investment rationale:

1. Infosys Technologies
Current market Price (CMP): 1,098.85
Target Price (TP): Rs 1,267
Upside: 15%

''The company is confident of sustaining growth volumes in the coming months through various initiatives. Their execution will be among the topmost challenges for the company. Infosys looks forward to grow, not merely in terms of volume, but also in terms of intellectual property. The company has taken various innovative measures and steps to lower the attrition rates. By FY'17, management expects attrition rate to be among the best in the industry. Thus, it is expected that the stock will see a price target of Rs 1267 in 8 to 10 months time frame on a Current P/E of 20.24x and FY16 (E) earnings of Rs 57.60.''

2. Mcleod Russel India
Current market Price (CMP): 232.85
Target Price (TP): Rs 262
Upside: 12%

''The company continuously is striving for excellence and is committed to strengthening a brand that is premium and sustainable. Company's focus to produce quality teas would continue to command a premium both in the domestic and international market. As part of a continuous up-gradation and modernisation programme of factories, withering capacity was increased on three estates. Thus, it is expected that the stock will see a price target of Rs 262 in 8 to 10 months time frame on a target P/E of 15x and FY16 (E) earnings of Rs 17.45.''

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