Maruti Suzuki a top pick: Devang Mehta

Maruti Suzuki is a top pick, says Devang Mehta, Vice President and Head - Equity Sales, Anand Rathi Financial Services.

Mehta told CNBC-TV18, "In autos there will be short term pressures till the headwinds are there. We know that there is still global turbulence which is happening, higher interest rates, higher inflation, higher petrol prices, higher fuel prices. So I guess one or two quarters can be bad for these companies."
He further added, "In coming October-November maybe the festive season - demand would start and at least vehicle sales for the car companies, passenger cars would start improving. So I guess Maruti will be our top pick at this point of time rather than Tata Motors and Ashok Leyland which are more into the CV space as well." Disclosure: We could have recommended above stock to our clients and they might be holding them, I do not hold any personal positions in it.