Buy Maruti Suzuki on dips, says Rakesh Bansal

Rakesh Bansal, CEO of rakeshbansal.com is of the view that one should buy Maruti Suzuki on dips.

Bansal told CNBC-Awaaz, "Maruti Suzuki is looking under pressure due to continuously negative news flow. The stock has support at Rs 1,050-1,030. If investors want to invest in auto sector then they can buy Hero Motocorp, Bajaj Auto and M&M. These stocks are looking better than Maruti Suzuki."

He further added, "One can buy Maruti Suzuki on dips at below Rs 1,050-1,030 with a long term perspective."

Maruti Suzuki touched its 52-week high Rs 1,599.90 and 52-week low Rs 1,010.45 on 01 Nov, 2010 and 17 Oct, 2011, respectively. Currently, it is trading -30.05% below its 52-week high and 10.76% above its 52-week low. Market capitalisation stands at Rs 32,334.81 crore.