Look at Maruti Suzuki on dips: Mayuresh Joshi

Mayuresh Joshi of Angel Broking told CNBC-TV18, "In Maruti Suzuki India the story still continues but again the concerns being raised if monsoons are sub-par, you might have issues atleast on the rural side of sales. So it is more a semi-urban, urban story for Maruti but clearly all the stocks that you are probably talking about, any further declines from the current level incrementally, some money can go into all these stocks.""People are actually waiting on the sidelines, waiting for corrections to happen on the stocks and clearly if you look at the overall picture, unless you are talking about demand decelerating for the Indian economy overall, I don't think numbers are going to change that much for a lot of these companies. So whether it be Maruti, whether it be HCL Technologies, a lot is being said about their numbers in terms of how the wage hikes will probably have impact on the EBIT margins but the order book has probably held up for HCL Tech.""Clearly with further corrections, valuations will look attractive and yes incrementally some money can be put in but again one must really buy on dips and in small quantities because you are not really sure where the markets are heading at least from a short-term perspective," he said.