Buy Maruti on a 7-8% dip: Mehrab Irani

Mehrab Irani, Investment Manager, Tata Investment Corporation Ltd. in an interview with ET Now talks about Maruti.

Would you be able to give a specific call on Maruti right now?

Maruti, although I would not sell at this point of time but I would surely wait to buy. We may get it around 7-8% cheaper from the current price, that should be a good price to and valuation to buy into Maruti.

Does the strike concern you enough to perhaps bring about a fall in this stock to that extent? Do you think if that could be a trigger or its just the general sentiment in the auto sector that you believe will peg Maruti down in excess of 5%?

Yes, that strike will act as a trigger but even if the strike had not happened, the auto sector would be under pressure and particularly the passenger vehicles, the numbers are not looking so good. There is a pressure. The Maruti and even Tata Motors might come down further from the current levels whether strike or no strike.