Bullish on Mahindra Holidays for long term: Ambareesh Baliga, Karvy

ET Now spoke to Ambareesh Baliga, VP, Karvy Stock Broking Ltd., on his views on Mahindra Holidays.

It's interesting to see that you have pick like Mahindra Holidays. What is the rationale?

A stock like Mahindra Holidays clearly is a lifestyle sort of a stock. We had seen the other stocks in this space already moving up although not in exactly the same sector as such.

In fact I have been talking of Talwalkars in the past that has moved up to a certain extent. We have had Jubilant Foodworks, which again is basically in the lifestyle space that has moved up but this stock has been more or less stagnant at these levels.

In fact with the 31% sort of a growth year on year for the last 4-5 years, we clearly see an exponential growth even going ahead. So even at around 23-24 times PE for FY11 I think it is still worthwhile at this point of time possibly we could see another Rs 40-Rs50 sort of a move in a month but again if you are talking of the next possibly 2-3 years this stock can easily move to levels of 750-800.