Rikesh Parikh, Vice-President Markets Strategy and Product Development - Equities, Motilal Oswal Financial Services Ltd view on auto stocks.
Parikh told CNBC-TV18, “Hero Motocorp specific I will say is more to do with some disappointment on the margin front which has led to a move down. Before the result if you see some expectation had build up and the stock had given a good run up and even the monthly sales number were better over there. So I will say already a built up of some position and a disappointment on the margin front had leg to a correction on the stock. In case of other stocks, that’s Maruti Suzuki or Tata Motors, the monthly sales number was below estimate and that’s why we are seeing some amount of selloff coming over there or a correction in the stocks.