Mehraboon Irani of Nirmal Bang Securities is of the view that Wabco India can be a Rs 10000 stock in next one and half years.
Mehraboon Irani of Nirmal Bang Securities told CNBC-TV18, "Auto ancillary as a space should continue to attract attention and we need to give weightage to the fact that the market somewhere likes this particular space. So, whenever there is momentum, people go and start chasing it. Quite a few of the stocks have moved from the recent lows but Wabco did nothing much over the last few months."
"I think great management, great products, maybe a little bit expensive but I think this could be an Rs 10,000 stock over the next one and half years. So, at the present level, I think fundamentally you may say that the stock looks expensive, but I personally have always looked at one thing in a stock and that is the supply. This is not a stock in which investors are going to sell in a hurry. So, at Rs 5,500-5,600, the stock has gone up sharply today, I think even at Rs 6,000 level I think there is still money to be made on the stock despite the fact that it is looking expensive," he added.
"One of the stock in the auto ancillary pack which I personally believe should be readying for a move is ZF Steering. This stock also has done nothing much over the last one to three quarters and if that makes a move, I am quite sure people are going to chase it – otherwise it is a good company with good products."The Great Diwali Discount!
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First Published on Mar 24, 2017 04:50 pm