Buy tyre stocks for long term: Baliga

Buy tyre stocks for long term, says Ambareesh Baliga, COO of Way2Wealth.

Baliga told CNBC-TV18, "We were suggesting people to look at tyre especially Ceat a couple of days back. But even at these levels it seems fine although its moved up 15% because what we see going ahead is the rubber prices cooling off, I am talking of the next 12 months to 15 months and by that time the catching up of the retail prices will happen and the big market for them is replacement market which will open up in the next 1.2-2 years because the number of vehicles sold in the last three-four years has been the highest till date is a sort of a record sales. All those vehicles will come up for tyre replacement in the next 1.5-2 years, so that