Buy M&M, Tata Motors on any dip: Doshi

Buy Mahindra and Mahindra (M&M) and Tata Motors on any dip, says Gaurav Doshi, Morgan Stanley Pvt Wealth Mgmt India.

Doshi told CNBC-TV18, "In autos we would be buyers of Mahindra and Mahindra and Tata Motors on any dip. We always look to accumulate these stocks and you tend to have auto stocks that practically correct when you expect a rate hike or when the market is expecting a petrol or diesel hike."
He further added, "We believe that over the next one month in autos you make a tactical entry point but we definitely be buyers but our top two are M&M and Tata Motors. We really avoid the two wheelers and we are not too positive on passenger cars as well."