Buy Maruti for short-term: Lalit Thakkar, MD Institution, Angel Broking

In a chat with ET Now, Lalit Thakkar, MD Institution, Angel Broking, shares his views on Maruti.

ET Now: What are you advising clients who are invested in names like Maruti now?

Lalit Thakkar: Maruti has come down. They have lost nearly Rs 4000 crore of market cap and the profits of the company are around Rs 2400 crore per annum. Regarding the Manesar incident, the stock has corrected more than warranted. It will take some time for the issue to get resolved. This will be a big hangover for the company. The stock is a ‘buy’, but as I mentioned we are worried about the high market share of Maruti. So in a medium term, we are not so positive on this stock. In the short run, looking at this correction and the expectation of the 4 wheeler sector to improve in the coming days, Maruti is a trading buy from our side.