Hold Nestle India for long term: Pankaj Jain

Pankaj Jain of SW Capital told CNBC-TV18, "Six months is too shorter period for stock like Nestle India to bounce back. Not to forget the stock has come down to from levels closer to Rs 6,667 in last one year. Very recently in spite of kind of sort of favourable judgemnet Nestle has got recently in its favour from state governments. They have launched Maggi in larger number of states. Still the management feels that it may take almost close to three years plus to bring back credentials of the company, balance sheet of the company to the kind of levels that were prevailing about a year back. Apart from that what is happening with respect to Patanjali versus all this FMCG.""Patanjali is turning out to be black swan in this industry. What would be the real effect would be known in next six months or may be next three-four quarters. However, definitely all these multinational companies are facing the heat of Patanjali. So, all in all may be if you are a short-term investor looking for a three to six months kind of scenario Nestle is not the stock to stay with. So, may be on any given good day because of any reason if you want to quit Nestle I think you can quit Nestle," he added."On a longer-term basis, I think it is fantastic stock to hold on and nothing wrong with a stock. However, on a short to medium kind of horizon, it will take time for Nestle to stabilise and come back to levels to plus Rs 6,000 kind of things," he said.