Is it a bad idea to be in auto ancillary space?

The stock of the day was Amtek Auto and for all the wrong reasons. It fell nearly 37 percent through the day. But it is not just about Amtek, the entire space is under pressure. Apollo Tyres, Ashok Leyland and JK Tyre too fell through the day.

Mayuresh Joshi of Angel Broking says the leverage positions on Amtek's books is its undoing. He advises investors to stay away from the auto ancillary space. However, he is bullish on MM Forgings.

P Phani Sekhar of Karvy Stock Broking, Sudarshan Sukhani of s2analytics.com and Tarun Sisodia, Head - Institutional Research, Anand Rathi Financial Services too gave their views on the space and a whole host of other stocks.

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