Long-term target of 550 for Religare Enterprises: Fayeza Hafizee

ET Now spoke to Fayeza Hafizee, Vice President, Institutional Sales, Intime Spectrum Securities Ltd, on her views on Religare Enterprises.

ET Now: What is your call on Religare Enterprises?

Fayeza Hafizee: The latest move is part of the general dynamic move that the group has been making into financial services segment. This is one very good way to acquire assets quickly because at this point in time trying to grow the book completely, organically was not going to be likely.

As long as the pricing on their acquisitions is in line with what it should be, we would be very happy. We like the company. We do think that there is a further upside here. Again, taking this at the context of the fact that upside may take a little time to come in but anything in the 400 to 420 zone is a good buy price for us. You could probably see 445-450 on the stock fairly soon and our longer term price target of in the 550 range or so.