Expect SKS Micro to move up to levels of about Rs 225-240: Edelweiss

In a chat with ET Now, Ambareesh Baliga, Managing Partner-Global Wealth Management, Edelweiss Financial Services, shares his views on SKS Micro. Excerpt:

ET Now: What is your call on SKS Micro now?

Ambareesh Baliga: I normally do a contra bet and SKS clearly is one of them. We saw this scenario changing at that point in time.

The scenario should change over the next two or three quarters and that is exactly how it is worked out.

Regulatory issues are behind them, hence, it can still move up further from here to levels of about Rs 225-240. I recommend a book out to a certain extent -- if you have bought at Rs 90-100 at these levels or closer to Rs 200 -- you should book out to a certain extent.