Hold TVS Motor Company: Phani Sekhar

Phani Sekhar of Angel Broking told CNBC-TV18, "2013 has been exceptional for TVS Motor, unlikely that performance will be repeated. Exports are contributing about 42 percent to TVS Motor overall volumes and we are not seeing pressure on any of those segments. Actually in the beginning of the year a lot of people including me thought that this competition from Honda will be really detrimental for TVS because the number three number four player usually gets edged out in a multiplayer competition."

He further added, "The rupee depreciation has come as a god sent for TVS because they are exporting almost 16 percent of their volumes and that explains this stupendous performance that they have recorded so far. Going forward I guess the stock might consolidate a little bit as a lot of their good performing models are being revamped and newer models are being introduced in 2014."

"We need to keep our fingers crossed as to what happens out there. But the good thing that is going for the stock is it is relatively inexpensive and going forward the valuation difference between TVS and Bajaj Auto and Hero Motocorp as it always happens during good times, might narrow down a little bit which might provide good returns to investors. So there are pros and cons but on the balance I think investor can hold on and if the stock gives you opportunities at lower levels you can average it down so that over the long-term you make around 20-25 percent even from these levels."