Mirc Electronics potential multi bagger: Aashish Tater

Aashish Tater of FortuneWizard.com told CNBC-TV18, "Mirc Electronics is doing a sales of Rs 1,000 crore. We have picked IFB Industries at Rs 75 odd mark, Hitachi Home & Life Solutions India at Rs 200 odd mark and we just followed one simple strategy that the company is focusing on change of strategy. It has worked always well to identify multi-baggers. This time Mirc Electronic, the Onida brand, it is well known with the Onida brand is right now focusing on smart applications and smart TVs and smart washing machines and also smart ACs. So, we feel if the change in strategy works well for the company this is a potential multi-bagger." "I would not like to give a target of say Rs 20-26 that is the target that we are working with before we take a re-look on how the strategy is working. This can be a very big potential in longer-term as well. If you see how Mirc Electronic can play well going forward, I was looking at the tier II structures and tier II reviews for ACs and Onida ACs are expected to do well. I was also reading the management conviction where they are talking about a sales of Rs 5,000 crore odd plus by 2020 which is a approximately 5-6 times from current level," he said."So if their strategy works, this is one stock which is a blinder at current level and there is limited downside if you are a disciplined investor and do not invest a lot of money but hold patiently."