Maruti Suzuki top pick from auto space: Dipan Mehta

Dipan Mehta, Member at BSE & NSE told CNBC-TV18, "Auto has been doing pretty well over the past 12 months or so. We have seen improvement in volumes. At the same time they are getting benefits of lower commodity prices. Companies such as Maruti Suzuki are moving up the value chain. Premiumisation is benefitting such companies and on the whole with the onset of a favourable monsoon with the demand metrics for these companies also will improve.""So, broadly we are very positive on almost all auto companies. Maruti Suzuki in particular with the usual disclosure that we and our clients are invested in it. It is the top pick within the sector. The passenger vehicle will tend to benefit the maximum from the various trends which are taking place that being rising consumer spending, the monsoon as well as the government pay commission, which also will benefit passenger vehicle manufacturers like Maruti Suzuki. It doesn't have some of the issues relating to diesel vehicles because predominantly it is a petrol vehicle manufacturing company. So, that remains our top pick over there," he said."Tata Motors is being driven clearly by the new models which have come through in the JLR and they have been very well received and almost all markets for Tata Motors are kicking in pretty well. So, that is another stock where we are very positive on with the usual disclosure that we have investments in it."