Look at Rico Auto: Prakash Diwan

Prakash Diwan of Altamount Capital Management told CNBC-TV18, "Rico Auto is into multiple solutions for the auto side and of course that also has run up in this week but I still believe there is a lot of value in the auto ancillary space. Some of these companies which will start kind of seeing much more scalability where the kind of newer platforms that are coming through in terms of launches and look at the manufacturers themselves, there is a whole slew of launches in the next couple of months which will re-define not only the auto ancillary space but even the main auto players itself. Be it Mahindra & Mahindra, be it the Maruti Suzuki and Hyundai of the world. So, everything is going to be very exciting till the festive season sets in."On Friday, Rico Auto closed at Rs 54.20, down Rs 1.85, or 3.30 percent. It has touched a 52-week high of Rs 58.05.