Stay out of Amtek: Ambareesh Baliga
"Whenever you have such adverse news especially IT raids and things like that it is best ignored. It is time to actually stay out."
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| Updated: Ambareesh Baliga, COO, Way2Wealth Brokers Pvt. Ltd. in an interview with ET Now talks about Amtek.
What would you do with Amtek Auto or Amtek India? Do you think that there could be a case of fundamental value being seen here?
Valuations normally do not matter whenever you have such news of IT raids. Let me just take you back a couple of weeks when there was raids on stocks like Allied Digital. This stock was quoting at about 140-150 levels from there it fell to 70.
I think slightly below when the raids happen. After that it has not really been able to really pick up from there so I suppose whenever you have such adverse news especially IT raids and things like that it is best ignored. It is time to actually stay out.
What would you do with Amtek Auto or Amtek India? Do you think that there could be a case of fundamental value being seen here?
Valuations normally do not matter whenever you have such news of IT raids. Let me just take you back a couple of weeks when there was raids on stocks like Allied Digital. This stock was quoting at about 140-150 levels from there it fell to 70.
I think slightly below when the raids happen. After that it has not really been able to really pick up from there so I suppose whenever you have such adverse news especially IT raids and things like that it is best ignored. It is time to actually stay out.
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