Jayshree Tea and Goodricke may see 15% upside in next 9-12 months, says Ambareesh Baliga, Independent Analyst.
Baliga told CNBC-TV18, “M&M news is a bit negative because it does not fall in their normal line of business especially these luxury cars. But then we should remember that whenever M&M has invested in the recent past in the last four five years they have been able to turn around the investments quite fast. So, from that point of view I would say that even if they go ahead with this investment and the stock falls I suppose that is a buying opportunity for all of us.”
He further added, “Most of the sectors have been covered in the last couple of months. They have moved one by one but again one sector which I have been talking of for the last couple of weeks, tea. I think that has just about started and with the expected price rise in tea already we have seen some hike in the last two-three weeks when we had auctions. So I see that the price rise still happening for the next at least 9-12 months and I see at least a 15-16 percent rise in tea prices. So from that point of view one should still look at Jayshree Tea, Goodricke."