Recommend a buy on Piramal Healthcare: Ashish Maheshwari, Globe capital market Ltd

Ashish Maheshwari, Director, Globe capital market Ltd, in a chat with ET Now talks about Piramal Healthcare.

What is your take on Piramal Healthcare?

If we see the major reaction in the stock, it has already happened. The $3.2 billion deal was a bigger picture. Now this 600 crores odd transaction will give a small fillip in the stock and you might see some levels. But overall, if we see fundamentals of the company, the company is really fundamentally sound and the next trigger after this will be what kind of special dividend is going to come. The market will watch out for this.

So we like to give a buy on this with a price target of 550. But it is a high beta stock, so we will advise investors to maintain a stop loss of 490 for sure.