Expect tyre stocks to come under pressure: Rajat Sharma, CEO, Sana Securities

In an interview with ET Now, Rajat Sharma, CEO, Sana Securities, talks about the tyres space.

ET Now: There was the disappointing performance from Apollo Tyres yesterday and then, of course, this entire China yuan devaluation story has not really augured well for the sentiment. Having said that, these stocks have made tremendous amount of money for investors out there, is it time to profit take?

Rajat Sharma: I would agree because these stocks had run up a lot in the past and now there is a natural correction. Additionally, with the yuan getting devalued and prices declining in some of the other markets, these companies should be under pressure for some time from here on.