Pidilite can head to Rs 580-590: Ambareesh Baliga

Ambareesh Baliga, Market Expert told CNBC-TV18, "The margins in Pidilite Industries were known that it is going to rise basically because the input costs have come down and again being a brand they need not reduce the prices. So, the margins automatically increase, but if there is no topline growth or if that is quite low, that is something which is worrying." "The way this stock has performed, may not be in the last five-six months but in the last one-one and a half years it has doubled. So, from here, I don’t see much of an upside. It could possibly go to levels of about of Rs 580-590 but crossing those levels will be a bit difficult," he said.