Hold MRF; Apollo Tyres, JK Tyre good buys: Devang Mehta

Devang Mehta of Anand Rathi Financial Services told CNBC-TV18, "There seems to be no gravity for quality stocks like MRF at current juncture and whatever the accrued price benefit also accrues for these companies as well as the dynamics of the auto industry, they are also changing. So, if I go by auto numbers which were so called mixed numbers. But the original demand plus the replacement demand would also tend to come in for a lot of such tyre stocks with rubber prices generally being down. So, the entire dynamics of the sector has changed and these are all cyclical stocks. So, they stand to benefit.""Having said that, it is a little difficult call for anybody to buy MRF at this time. It is a very good hold. Apollo Tyres as well as something like JK Tyre and Industries qualifies for a good buy on valuation parameters," he said.