S Ranganathan upbeat on Marico Kaya Enterprises

S Ranganathan of LKP Securities is upbeat on Marico Kaya Enterprises.

S Ranganathan of LKP Securities told CNBC-TV18, "Kaya is the de-merged entity from Marico. It has got de-merged and listed separately quite recently. We believe that Marico Kaya Enterprises  is the best bet to play the rising aspirational theme of the middle-class urban consumer in India. In my view given the strong business franchise of Kaya and the proven promoter background Kaya is definitely well poised going forward because they have fairly large network of more than 85 centers across more than 25 cities in India."

"We believe that it is a classic play on the consumer discretionary spend in India. So, we are extremely upbeat on the stock going forward from a longer term perspective because they are on a very strong wicket and the valuations are also quite reasonable when you compare to where the market is at this point in time," he added.

Disclosure: At LKP analyst has been recommending the stock and his clients would have a beneficial interest in all the stocks that he has discussed.

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