Prefer Subros, says Mayuresh Joshi

Mayuresh Joshi of Angel Broking told CNBC-TV18, "We like tyre companies. If rubber prices stay at these levels, I think the margins should get sustained. However a sustained recovery would come in both from the OEM side of the business and the replacement market as well. So, we do like tyre stories, JK Tyre, Ceat and Apollo Tyres remain on our accumulate and buying list."

"Apart from all these tyre stocks, Subros is something we are clearly liking. After a strong correction that we witnessed and the kind of expectations that we have in terms of PV volume growth the earnings should be much higher for Subros and with operating leverage benefits kicking in improvement in utilisation levels I think the stock is poised for good growth going forward. So, Subros is something that we probably like from the auto ancillaries as well," he said.