Auto ancillary as a space should do well, says Neeraj Deewan, Quantum Securities

In a chat with ET Now, Neeraj Deewan, Director, Quantum Securities, shares his preferred picks.

ET Now: Apart from PSU banks, what else are you buying? Last time when we interacted, you were bullish on forging companies and Ahmednagar Forging was one of them. Do you still like the forging space because today Bharat Forge numbers were nothing short of extraordinary?

Neeraj Deewan: As far as Ahmednagar Forging is concerned, it is not doing that well right now because last quarter also they had some stock pile up. Some demand from the commercial vehicles segment went down. So, they might take another quarter to come back with better numbers. So that stock is definitely not in the picture right now.

Otherwise forging companies such as Bharat Forge and RK Forging are doing well. We are generally positive on auto ancillaries. The recent ones which we have covered is Shivam Auto. Minda Industries is another one which we have covered recently. So, auto ancillary as space should do very well, which has already been reflecting in quarterly numbers and stock prices.