Buy MRF, says Rajen Shah

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Buy MRF, says Rajen Shah

Rajen Shah of Angel Broking is of the view that one can buy MRF.

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Excerpts from Closing Bell on CNBC-TV18 Watch the full show » ALSO READ See previous views by Rajen Shah See what other Experts & Brokerages are saying about MRF See messages about MRF MRF BSE | NSE 10/02/12 Are Mutual Funds betting on MRF? Other Stocks in this news Mcleod Russel (India) |

Rajen Shah of Angel Broking is of the view that one can buy  MRF .

Shah told CNBC-TV18, " Mcleod Russel that looks interesting, something in the sugar space that could be picked by."

He further added, "If you see April, May and June they have been good for the auto sector and June was reasonably good for the auto sales, they were quite buoyant. Tyre companies should benefit immensely on account of that. Rubber prices have cracked almost about 33%, crude is down 50% from the top. So we are certainly going to see significant improvement in the bottomline of tyre companies. One of the companies which comes to my mind is MRF. Last quarter it reported in one quarter it reported Rs 160 kind of earnings. So for the full year it could probably report about Rs 600-650 kind of earnings. So it is quoting just about 4.5-5 times the earnings, so companies like these can be picked up."