Pick Ashok Leyland: Gaurang Shah

Gaurang Shah of Geojit Financial Services told CNBC-TV18, "We are positive on commercial vehicle segment for a long time and unfortunately on Delta Corp we do not have a specific coverage, so will not be able to comment on that but from a longer-term time horizon, given the risk reward and of course the opportunity that lies ahead, I think commercial vehicle play in the auto sector will be a great investment idea and with that perspective, I would suggest Ashok Leyland. At Rs 82, your downside is extremely protected plus you have got four triggers on the positive side."

"One is the scrappage policy, second one is GST, third one is defence and the fourth one is export market for this company and I was listening into the verbatim from that entire debate of BS-III to BS-IV was happening, the management was quite confident of surviving difficult times and delivering better growth. So our sense is that Ashok Leyland will be a good long-term investment bet," he added.