Buy SKS Microfinance: Ambareesh Baliga

One can buy SKS Microfinance at these levels, says Ambareesh Baliga, Independent Analyst.

Baliga told CNBC-TV18, “We have already seen a decent cut in the mid-cap stocks, so, you could see some more fall. But I don’t think it will be substantial from here. The way I see it is on the index as such there could be a fall of about 4-5 percent, but not really beyond that and my pick this week is SKS Microfinance, which has shown atleast a turnaround after seven bad quarters.”
He further added, “The Microfinance Bill also will be one of the trigger for this stock and despite these sort of results this stock has fallen in the recent past from around Rs 180-185 levels to closer to about Rs 130-133. So, I think at these levels downside is quite limited. So, I think one can buy at these levels and wait for again levels of about Rs 170-180, which I see happening in the next 4-6 months.”