Stay with Maruti Suzuki: Tulsian

Investment Advisor SP Tulsian is of the view that one should stay with Maruti Suzuki for long term.

Tulsian told CNBC-TV18, "Maruti Suzuki figures for June about 56,000 cars sold is not bad considering the kind of bearish sentiment which has been prevailing since last couple of months and people have put on a hold to their buying plans for automobiles. But this has all been factored into the price also when we have been bullish on the stock it has been ruling at around Rs 1000 plus or around Rs 900 plus, but now it has corrected about to Rs 620 to Rs 625. Definitely there is no point unless you have a long term call."

He further added, "The pain is going to remain for the next 6 months or so because of the slowdown. Once the inventory build up starts happening at the company’s level, there maybe a cut in the production also. If one is an investor already holding the stock he/she can remain invested and there is no point in making too many reshufflings with in the sectors or within the companies also. So my advice is fresh buying may not be contemplated at these levels but for already investor, remain invested with a slightly long term call."

Disclosure: Analyst has interest in ICICI Bank and GMR infra.