Stay away from Maruti Suzuki: Religare

Stay away from Maruti Suzuki, says Manoj Singla, Religare Capital Markets.

Singla told CNBC-TV18, "I think it is obviously very difficult to take a call on these six sigma events. I think from a short term view what one would say is it is best to stay away from Maruti till we get a firm resolution on this issue."
He further added, "Having said that, on a slightly longer term view around 12 to 15 months view at the current share price Maruti does look good because once these problems go away one can look at good upside in Maruti probably more in FY13 than FY12. But clearly from a timing perspective one needs to wait for how this problem resolves because they can become big and they can hurt production for a long period of time."