Cautious on midcaps, Apollo Tyres looks attractive: Harihar

TS Harihar of HRBV Client Solutions told CNBC-TV18, "I am a little cautious on midcaps at these levels. There are two things that would work against midcaps. One is if you look at the estimates for the overall universe in Q4, in a best case scenario Q4 could actually be anywhere between -5 percent to +5 percent. In this kind of a scenario I won’t be too positive on midcaps. Probably a stock like Apollo Tyres which at current market price of about Rs 160-170 does look a little attractive but other than that I don’t think it is probably the right market to get substantially into midcap."

At 10:16 hrs Apollo Tyres was quoting at Rs 180.70, down Rs 0.75, or 0.41 percent. It has touched an intraday high of Rs 182.45 and an intraday low of Rs 180.35.