Buy Motherson Sumi Systems: Mehraboon Irani

Mehraboon Irani of Nirmal Bang Securities told CNBC-TV18, "You need to watch the trend of a stock and you need, as far as the management goes, company goes, you need to see what they have done in the past. Whatever Motherson Sumi has done, eventually it has added to shareholder value. If you go back through history and check out Motherson Sumi right from the time the IPO had come, I have been tracking this company right from that time.""I believe looking at the way the stock is and looking at the way the other auto ancillary stocks are behaving, I personally believe that Motherson is possibly giving us third best opportunity in the last 15 years for people to accumulate for the longer term. Twice in the past, it has happened. It passed through a long consolidation phase and then just took off," he said."I will not be surprised if Motherson Sumi could be at a level from where it can only go up. So, I would say that this is a stock which I am recommending as a fresh buy. Clear disclosures, personally holding it and clients are holding it."