Buy JK Tyres among other companies in tyre sector: Rajen Shah

In a chat with ET Now, Rajen Shah, Chief Investment Officer, Angel Broking, shares his views on Tyre sector.

ET Now: Do you track tyre companies because Ceat is showing a particularly adverse reaction, the market is used to getting good results from the tyre companies and this time around Ceat has disappointed?

Rajen Shah: Well Ceat has run up a lot from almost 150 levels or in fact 100 levels to almost about 650 levels, so obviously there are even if the company would have reported reasonably fine numbers the stock would have corrected.

But JK Tyres should report reasonably fine numbers, we are expecting about Rs 60 kind of earnings, stock is at about 330 at 5.5 times, we could see some upside in JK Tyres so the bet in the tyre space would be JK Tyres at about 325-330 levels.