Moneycontrol
Jan 13, 2017 04:39 PM IST | Source: CNBC-TV18

Buy Maruti Suzuki, Tata Motors on declines: Sanjiv Bhasin

Sanjiv Bhasin of IIFL recommends buying Maruti Suzuki and Tata Motors on declines.

Sanjiv Bhasin of IIFL told CNBC-TV18, "From Rs 4,750, Rs 5,000-5,200, we have been reiterating buy on declines on Maruti Suzuki. Even now I will say buy on declines because you will surprised on the upside. We have upped our targets to Rs 6,500 by the end of 2017. Definitely this will be the best four-wheeler space."

"Another of our top-picks, Tata Motors has also done exceedingly well. So, now to chase it at this price would be difficult. But, definitely we are overweight on both these stocks, on any declines and would reiterate a buy. The Ignis launch is telling that in the small segment, there are miles to go. The results will show that," he said.

"In the large segment, there will be a downsizing of margins, but the volume growth on the lower side in the Baleno and the Brezza is definitely going to be the icing on the cake."

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