Look at Maruti Suzuki: Devang Mehta

Devang Mehta, Senior Vice President & Head Equity Advisory at Anand Rathi Financial Services told CNBC-TV18, "The figures posted by lot of automobile companies were quite disappointing. This seems to be a one off for some companies at least because the festive season this time starts in September and probably will last till at least till November. I think these 2-3 months would be quite crucial at least for domestic sales for companies like Maruti Suzuki who would normally sell good cars on the back of new launches as well as new variants. So, probably they would sell good enough cars in this festive month.""I think one needs to focus at least for one more quarter on these companies before downsizing the estimates or downgrading the stocks. I don't think the story is yet over because if at all India is about to grow and if at all the demographics favour, I think the sales would at least on the local front be not as bad as it was in the month of August," he said.