Ajay Bodke, Head, Investment Strategy & Advisory of Prabhudas Lilladher told CNBC-TV18, "We realised that the diesel price hike, which is imminent, as well as the fact that the utility vehicle (UV) business has slowed down quite significantly has made us cautious on Mahindra and Mahindra (M&M)."
"We prefer Bajaj Auto and Hero Motocorp because we see the rural demand coming back quite strongly post harvest. That is the reason why we are advocating switching over to the two-wheeler pack where valuations are also looking very reasonable," he added. Also Read: August auto sales continue to disappoint; exports riseDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
