Buy Mahindra and Mahindra, says Parag Thakkar

Parag Thakkar of HDFC Securities told CNBC-TV18, "Mahindra and Mahindra (M&M) is a stock I would definitely buy because I really remain bullish on tractor sales because after two years of drought and two years of very bad numbers, tractor numbers have started to come up and Mahindra definitely is a market leader over there.""If auto business is also starting to do well M&M has no reason to go down. The only point is that two wheeler business is still struggling for sure and if this cash flow issues come up then they will be trouble for all auto companies, for December quarter. In my view it is just a December quarter phenomena. After that, things will look very good," he said."Whatever this government is doing for rural India, this Budget will also 100 percent emphasise on rural India. There is a very decent monsoon, of course there are shortfalls in some areas but recent monsoon backed by government increasing their spending on irrigation and various others, right now things look very bad suddenly but from January-February onwards you will see momentum picking up."