Prefer Mahindra Holidays and Resorts: Ambareesh Baliga

Ambareesh Baliga, independent market expert told CNBC-TV18, "A midcap stock which I recommended in the past which has not moved much but even at these levels it makes a lot of sense is Mahindra Holidays and Resorts India. However, looking at the acquisition they made in Finland, I think the acquisition is decently cheap around Rs 200 crore. Compare that with Sterling Holiday Resorts (India); it is about Rs 2,300 crore marketcap. Therefore, looking at this acquisition, looking at longer term Mahindra Holidays at these levels there is not much of a downside. The downside is possibly Rs 220-225 whereas upside is a blue sky."

At 10:41 hrs Mahindra Holidays and Resorts India was quoting at Rs 244.95, up Rs 4.75, or 1.98 percent. It has touched an intraday high of Rs 254 and an intraday low of Rs 241.25.