Mukadam told CNBC-TV18, "Bajaj Auto is almost touching its year high. So I think to an extent, the stock has performed, giving you that phenomenal performance on back of very good numbers because the base was much lower."
She further added, "Going forward, I still think most of the auto companies; Hero Honda, Bajaj Auto, Maruti, Mahindra & Mahindra are likely to continue delivering on a slightly lower growth basis on a year-on-year (YoY) basis. At the same time, I think the valuation at about 16-17 times is not too expensive and one can look to get in at declines. Maybe at current levels we may see some bit of resistance but at slight declines, one can definitely get in."
