Gitanjali Gems is undervalued: Vikas Pershad, Veda Investments

Vikas Pershad, Founder & CEO, Veda Investments, in a chat with ET Now talks about Gitanjali Gems.

Coming on the mid-cap space, how are you reading the moves there and in particular, what’s your thought on Gitanjali Gems because you just recently met the management?

What’s interesting is I meet these companies and I realise many of us are far too often focussed just on the next trade or the next day or the next hour or the next tick or the next week or month. The India story is one of the very few in the world that is a multigenerational story. We are much closer to the beginning than the end.

So when I meet these companies, especially the mid caps, they are doing amazing things and many of them are greatly undervalued. Talking about Gitanjali Gems, you might have questions about branded jewelleries, especially in the US, but if you look at the valuation, if you look at some of the news coming out and you combine that with a low valuation and improving fundamentals, there is reason to own Gitanjali Gems. It is undervalued.