Buy Tata Global on dips: Rajesh Agarwal

Rajesh Agarwal of Eastern Financiers is of the view that one may buy Tata Global Beverage on dips.

Rajesh Agarwal of Eastern Financiers told CNBC-TV18, " Tata Global Beverage 's earnings look disappointing, the bottomline was down by about 27-28 percent. But the earnings went down due to restructuring, brand building and one time expenses. So going forward the company is going to take care of this and the numbers are going to be good. The valuations are pretty good at Rs 9500 crore market cap and the company is sitting on investment of around Rs 2000 crore."

He further added, "When we compare the valuation with other peer group companies in the FMCG space, the valuations are pretty cheap considering the fact that a large part of revenue comes from international market. Not only in India the company has footsteps in various other countries, the tie-up with Starbucks and PepsiCo is going to give good results."

"All in all Tata Global is a good long-term bet. If someone is ready to hold this stock for may be two years down the line I won't be surprised if they get more than 40-50 percent returns. I would say any dip in the stock will be an opportunity to buy."

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