Upside is limited in textile space: Ambareesh Baliga, Karvy

Ambareesh Baliga, VP, Karvy Stock Broking Ltd, in a chat with ET Now talks about the textile space.

What is the call on the entire textile story? There are some signs of a revival kicking in. However, the currency factor continues to play or rather loom large on the entire industry. Would you take a look at any of the stocks?

Not really, except for the ones which we have been recommending. A couple of others like Arvind moved up because denim prices have started moving up. But again, if you actually look at the overall textile story as such - whether you are talking of Raymond, Century and a number of others including Arvind - I think it is more of the reality play in these stocks than the real textile story as such.

So if you are looking at purely textile business, I do not think there is much of cream left. So basically you need to look at stocks where it is a property play and basically play on that. Even there, most of the game is more or less over. We have seen the moment in Century, we have seen a huge moment in stock like Raymond. So from here I think the upside is quite limited.