Prefer Hero Motocorp: Mayuresh Joshi

Mayuresh Joshi of Angel Broking told CNBC-TV18, "You plot the charts out and look at TVS Motor Company to even a Hero Motocorp or Bajaj Auto for that matter. Largely in terms of their alliances with BMW, the kind of numbers in terms of volume growth that they have produced is taking the stock price higher though the only disappointing factor would be the margins. The management had guided for improvement in margins, but for various reasons, the margin growth was not evident."

"So at this point of time, on any other decline with the festive season coming around, Hero Motorcorp is something that I will still continue to prefer within the two-wheeler space in a staggered way on a subsequent declines. With volume growth expected to be extremely strong and with realisations expected to remain stable with a few price hikes taken to take care of the input cost increases, my own sense is that the earnings trajectory should probably remain stable and improve thereafter over the next few quarters for the company. So again Hero Motocorp probably remains one of my conviction ideas within the two-wheeler space, but on declines and in a staggered manner," he said.