Sep 02, 2013 03:29 PM IST | Source: CNBC-TV18

Do not buy M&M: Manoj Murlidharan Vayalar

Manoj Murlidharan Vayalar of IIFL recommends not to buy Mahindra and Mahindra (M&M).

Manoj Murlidharan Vayalar of IIFL told CNBC-TV18, "Right from the expiry till Friday in just two days we have actually seen delivery buying. We have seen delivery buying in cement sector and some in the capital goods sector. There is some buying which has happened in the auto space but that is more into Bajaj Auto and Hero Motocorp."

"Mahindra and Mahindra (M&M) would still not be a buy. There has to be cash based buying which should be more than decent five day average. If it has to go 3-4 percent one needs to have some cash based buying," he said.

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