Buy M&M on dips, positive on Hero Moto: Neeraj Dewan

Neeraj Deewan of Quantum Securities told CNBC-TV18, "Though I am positive on Hero Motocorp, the 7th Pay Commission pay hike and the kind of followup which happens to these kind of stocks a couple of quarters down the line, there can be improvement in sales as such. But even Mahindra and Mahindra, as a stock is correcting. Might be some more downside can be there because of the concern which is there in the stock today, but in the longer-term perspective, a couple of years perspective, M&M with the kind of rural push that we have seen in the Budget, and the expectations that this time around the monsoon can be better than the last two years.""So, with all these things in mind, I think M&M can be a gainer in the next couple of years. So, I would be buying M&M on dips with that point of view," he said.