May 03, 2012, 01.23 PM | Source: CNBC-TV18
Rikesh Parikh, Vice-President Markets Strategy and Product Development - Equities, Motilal Oswal Financial Services Ltd view on auto stocks.
Rikesh Parikh (more)
VP Markets Strategy & Product Development -Equities, Motilal Oswal Financial Services | Capital Expertise: Equity - Fundamental
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.