Keep Mahindra and Mahindra in buy list: Prayesh Jain

Prayesh Jain of IIFL told CNBC-TV18, "For Mahindra and Mahindra (M&M) it is important that the new launches that they are planning in the utility vehicles (UV) space, how do they pan out and whether they are able to garner market shares out of the new players that have, the likes of Ford and the Renault in the compact UV segment or for even that matter, even Maruti has been able to gain some share there. So whether M&M is able to recoup some lost market share there from its new models that would be the key. The second important point would be a normal monsoon, if it happens, can it really boost the tractor sales. These two factors are really to be watched out for."

"The valuations are at a steep discount to the other players and hence it is there on our buy list just for the valuation comfort that it provides," he said.