Wait for correction in Mahindra Holidays: D Mehta

Mehta told CNBC-TV18, "In Mahindra Holidays I think either wait for the stock to correct below its IPO price or you wait for the company to come out with numbers which can surprise you. Because as of now based on the available information the PE multiples are on the higher side perhaps in the excess of 30 times or so. That is a bit discomforting. Perhaps there is not enough margin of safety for investors to buy at these levels. So either you wait for the performance to justify these prices as a buy, or you wait for a correction."