Neutral on Amtek Auto, says Mayuresh Joshi

Mayuresh Joshi of Angel Broking told CNBC-TV18, "We still remain neutral on Amtek Auto but from a long term perspective we are comfortable in State Bank of India on declines but in a staggered manner.""In terms of valuations Surya Roshni trades at 7.5 times which if I do a comparison check for the consumer durable business of Orient Paper, I think it is relatively cheaper because RoC of this business is much higher than Orient Paper. So, clearly undervalued at this point of time with a 12 month target of Rs 183 is not ruled out," he said.Amtek Auto closed at Rs 47.55, up Rs 4.15, or 9.56 percent. It has touched an intraday high of Rs 49.80 and an intraday low of Rs 42.65.State Bank of India closed at Rs 241.15, down Rs 3.60, or 1.47 percent. It has touched an intraday high of Rs 244.75 and an intraday low of Rs 240.25.