Buy Bajaj Auto with a 9-12 month perspective: Neeraj Diwan

In a chat with ET Now, Neeraj Deewan, Director, Quantum Securities, shares his view on Bajaj Auto.

ET Now: Bajaj Auto surged 6.5 per cent on Monday. I have to struggle to think when was the last time Bajaj Auto stock moved above Rs 2,000 level. Do you think that this is pretty much the start of an uptrend or the auto numbers by the two-wheeler maker would just be a blip. The stock is still down around 20 per cent so far this calendar. Can we see further upside in the stock price?

Neeraj Deewan: Yes. It makes a case for an investment because I feel the kind of auto numbers the company has clocked, in addition to the pick up in demand for its the commercial vehicle segment. Interest rates are on the downside and we expect them to fall further going ahead. Bajaj Auto can be a good buy from 9-12 months perspective.