Avoid Mahindra & Mahindra as it can see decent downside: Prashasta Seth

In a chat with ET Now, Prashasta Seth, Senior Fund Manager, IIFL Wealth, shares his views on Mahindra & Mahindra Ltd.

ET Now: What is your call on Mahindra & Mahindra?

Prashasta Seth: We are seeing nervousness on the Aston Martin news. The stock has seen fairly decent outperformance over the last 1-2 months. Even without the news, the stock would have found a fair value at around 975-1000. Therefore, the risk return trade off at these levels does not look great. If things go right, we can make a 10% in the next year. If the Aston Martin news materialises, we could see a decent downside from the current level. Therefore, it would better be avoid Mahindra & Mahindra at this point of time.