Parag Thacker cautious on tyre stocks

Parag Thakkar of HDFC Securities told CNBC-TV18, "I had been more bullish on Original Equipment Manufacturer (OEM) plays because of my call on monsoon, seventh pay commission and scrapping coming into place, Jamna Auto Industries and we have discussed various stocks in the past and there were serious opportunities.""In tyres also I feel that latest move has come both on the back of overall bullish view on autos and most importantly rubber prices going down. So, I would say that at this prices I am a little bit cautious. Of course there are great companies like MRF in that space. But I am a little bit cautious because it is too much dependent on rubber price now," he added.