Bhagwati Banquets may give good returns: Baliga

Bhagwati Banquets may give good returns, says Ambareesh Baliga, Independent Analyst.

Baliga told CNBC-TV18, “Among the midcaps, which have cracked in the past few days, there is one stock that I have recommended in the past and I will recommend again is Bhagwati Banquets. Just look at the valuation of the asset, they have a hotel in Surat which is worth about Rs 500-550 crore. They have about Rs 120 crore loans on the balance sheet.”
He further added, “The marketcap of the company is Rs 125 crore at today’s prices. So, I do not think there is any downside for this stock from here. If one buys this stock at these levels and holds on for a year should give a good return.”