JK Tyre looks probably the best of the lot: Ashwani Gujral
In fact one of the recommendations is JK Tyre which has collapsed quite a bit from higher levels. So that looks probably the best of the lot.
By 
|
| In a chat with ET Now, Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, talks about tyre stocks.
ET Now: What is the call on the tyre stocks?
Ashwani Gujral: As long as all of these stocks and these companies are using rubber and rubber is going down, they should continue to move higher and particularly because of high rubber prices, they had all collapsed about 25-30%, so this sharp rally should continue. In fact one of the recommendations is JK Tyre which has collapsed quite a bit from higher levels. So that looks probably the best of the lot and that could really run up to levels of 115. Apollo could get up to 75-76. All of those stocks, MRF, CEAT, they should move higher. So as commodities are coming down, you are seeing more and more resilience in the Indian market. So a lot of companies tend to gain if there is money coming out of risky assets.
ET Now: What is the call on the tyre stocks?
Ashwani Gujral: As long as all of these stocks and these companies are using rubber and rubber is going down, they should continue to move higher and particularly because of high rubber prices, they had all collapsed about 25-30%, so this sharp rally should continue. In fact one of the recommendations is JK Tyre which has collapsed quite a bit from higher levels. So that looks probably the best of the lot and that could really run up to levels of 115. Apollo could get up to 75-76. All of those stocks, MRF, CEAT, they should move higher. So as commodities are coming down, you are seeing more and more resilience in the Indian market. So a lot of companies tend to gain if there is money coming out of risky assets.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
