Buy Maruti Suzuki, Biocon, Shriram Transport Finance: Rahul Shah

Rahul Shah of Motilal Oswal told CNBC-TV18, "Shriram Transport Finance has seen new highs after a long time and stock is performing very well. We have seen longs added and technically also the stock is in a very well poised position. So I think one should look at buying with a stop loss of Rs 1,302 in futures and a target of Rs 1,385."

"Second is Biocon, after a fabulous run-up today, I think still the stock can perform much better from the current level. I think one should still go long in Biocon with a stop loss of Rs 474 for target of Rs 505."

"Third is Maruti Suzuki, post monthly numbers, we have seen this stock doing quite well, so I think it is an opportunity to buy in auto space. This is the only stock which has outperformed the entire auto Index. So I would buy Maruti with a stop loss of Rs 8,530 for target of Rs 8,850."

At 12:35 hrs Maruti Suzuki India was quoting at Rs 8,533.05, down Rs 74.50, or 0.87 percent. It has touched an intraday high of Rs 8,650.00 and an intraday low of Rs 8,511.55.

Biocon was quoting at Rs 494.15, up Rs 47.60, or 10.66 percent. It has touched a 52-week high of Rs 510.00.