Dish TV likely to touch Rs 150-160 levels in short term; buy on dips: Ambareesh Baliga

In a chat with ET Now, market expert Ambareesh Baliga shares his view on Dish TV.

ET Now: Dish TV looks like a turnaround story. It has gone past Rs 100/share. The level now seems like a new technical base. A three-month chart for the stock would reflect what the stock has done from last quarter when it turned into the black, but where does it go from here because in our call with the management it almost seemed like where the 50 crores run rate on profitability, they could really surprise this year on earnings.

Ambareesh Baliga: Absolutely, this is what I have been saying now for a while and since I was recommending Dish TV since it was Rs 40-45 levels and I was comparing that with the telecom space, exactly as to how telecom space was in the late 90s, early 2000 and exactly that was the investment period.

After that, it was payback period for the telecom space. So similarly for Dish TV, the last four-five years was the investment period and now the payback period has started. So, you will see profits growing exponentially. The company has got subscribers in place. The model is in space.

So this is the time you will actually see profits really going up exponentially. Therefore, any sort of correction in Dish TV is clearly a time to buy or opportunity to buy because I really see this stock possibly crossing Rs 150-160 in a very short span.