M&M best bet in 4-wheelers pack, says Irani

Mahindra and Mahindra (M&M) is a best bet in 4-wheelers pack, says Mehraboon Irani, Principal and Head- Pvt Client Group Business, Nirmal Bang Securities.

Irani told CNBC-TV18, “Mahindra and Mahindra (M&M), I am not very disappointed though there is a slight pressure on the margins but as far as the top line goes honestly no complaint. As far as the stock goes we need to accept the fact that whiles the results may be in line with expectations slightly better, slightly disappointing the fact is at a particular price if I am buying it whatever is in it for me. So not in a hurry to recommend M&M. Though among the 4-wheelers I think I still prefer Tata Motors may be at around Rs 230-235 which I mentioned earlier and the second stock in that pack would be M&M.”
He further added, “Tata Motors, the only concern which I was mentioning is that 90% of its consolidated profit comes from JLR. If there is a slowdown in Europe or Europe goes into a further mess that is something which the analysts community will be little bit concerned about. Though the silver lining is that the Chinese market is growing as far as JLR goes. So we have to keep our fingers crossed and wait for the analysts meet this evening and get some more clarification from the management of Tata Motors. M&M would be the second best bet in 4-wheelers.”