Book profits in Hero Motocorp , says Jagannadham Thunuguntla, Strategist & Head of Research, SMC Global Securities.
Thunuguntla told CNBC-TV18, "If you are a trader I suggest you can book profit once in Hero Motocorp. Nifty has rallied almost a vertical rally in the last 45 days. I think gravitational forces will work on the Nifty as well. At one point or the other there will be profit booking. You can add the stock back again but if you are an investor who have patience of 6 months -1 year-2 years; with that kind of time frame I think you can stay invested."
He further added, "It's a class act and the company is growing. Despite the concerns on the economy, the automobile numbers continuously surprising on the positive side. Nothing to worry about it but trader looking for a short term you should book profit once."
