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Like MM Forgings, says Mayuresh Joshi

According to Mayuresh Joshi of Angel Broking, one may prefer MM Forgings.

July 13, 2015 / 16:25 IST
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Mayuresh Joshi of Angel Broking told CNBC-TV18, "Clearly from the non-index pack within the auto space per se MM Forgings is something we continue to like. Our take is that the earnings momentum should be quite decent over the next few quarters with capacity expansion happening from 40,000 mt to 65,000 mt odd. So, the top line should grow anywhere between 16-17 percent over the next couple of years aided with margin expansion and operating leverage. So, MM Forging is something that we are liking structurally as a story."

"Within the two wheeler pack, TVS Motor's numbers should be relatively better this quarter around. On a quarter on quarter basis the volumes might be a little bit lower but realisation should improve, the margin should show some amount of improvement as well. So, clearly we are being very stock specific but few stocks within the broader universe might as well outperform as the results come out," he said.

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first published: Jul 13, 2015 04:21 pm

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