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Avoid Tech Mahindra, says Baliga

Published on Thu, Nov 26, 2009 at 11:20 |  Source : CNBC-TV18

Updated at Thu, Nov 26, 2009 at 17:15  

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Ambareesh Baliga, Karvy Stock Broking

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Ignore Tech Mahindra , says Ambareesh Baliga of Karvy Stock Broking.

Baliga told CNBC-TV18, "I would tend to ignore Tech Mahindra at this point of time because even when it moved up we felt it was too expensive, in fact our valuations were closer to around Rs 600-650. So surely at this level I would not buy. It had just moved up mainly because of Satyam and because of that acquisition, I think even that should come down, I don't know whether it will come down to levels of Rs 600-650 but it needs to correct much more from where it is right now."

  

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