Buy Maruti Suzuki, says Hitesh Goel

Hitesh Goel, Associate Director at Kotak Institutional Equities told CNBC-TV18, "We have a buy rating on Maruti Suzuki. The stock has given handsome returns this year but we believe there is more to come. In the second half, we are building on a growth of 10-12 percent because of new model launches. Baleno has got to a good start, S-Cross is picking up and there is a new compact Sports Utility Vehicle (SUV) which will also come in the fourth quarter. So, we are pretty confident on that and also with the pay commission report expected by December end, you should see a growth in FY'17 also if the pay commission gives a pay hike of 25-30 percent.""My sense is that in FY'17 you will see a very strong growth on the industry side which will benefit Maruti because their new launches will also come in by then. So, I am pretty positive on the company," he said.