Add Maruti Suzuki to portfolio: Deven Choksey

Deven Choksey of KR Choksey Investment Managers told CNBC-TV18, "Certainly I would think that the kind of expenditure that Maruti Suzuki have incurred, probably I think to expand their marketing reach through Nexa, that this is going to be even continuing in this quarter as well." "On one side they have a volume increase and on other side they also have simultaneously virtual cost reduction which is adding to the profitability. The currency behaviour is not negatively impacting the company’s profit performance, to a greater extent it gives me a confidence that ultimately this particular factor would weigh higher compared to the cost that they have incurred and are incurring for expanding the marketing reach through the new showrooms like Nexa," he said. "Certainly, I think on one side if you have cost to incur on the other side I think there is substantial amount of benefits which the company is working on with. I would rather think that most of the negatives have been priced already into the stock. Probably the correction in the price is giving an opportunity." "The kind of a fall which we are seeing in the market as if the company’s performance is going to be badly affected, I would think that it is making some kind of a bottom formation at some levels. So certainly would like to add the stock into the portfolio in this kind of a fall.""I think Sun Pharmaceutical Industries has possibly shown once again a character of bouncing back within the entire pharma space and that is what I am referring to that when a fundamentally good quality company for some reason if they go down, I think with positive news they have the tendency to go up. I think that is what Sun Pharmaceutical is indicating. Glevec has been talked about and I believe that the company would have advantage of not only launching the generic but also the same time. The pricing pressure would be less on that particular generic drug." "Certainly I think it gives you little amount of heads up on this particular subject. I think the company on EPS would improve in subsequent period of time, of course the calculation, we will have to wait for some time. However, I would think that as a positive and technically also I think the stock should be positive because in this particular quarter they are expected to have completed the entire Ranbaxy absorption into the business. Probably, if that is so in subsequent quarters, I think the profitability should come to some amount of normalcy," he added."So, I would remain positive about this company and look to the opportunity of buying on every correction or dip into the stock."