Maruti, a good bet on declines at around 1200-1250 levels: P Phani Sekhar

In a chat with ET Now, P Phani Sekhar, Fund Manager-PMS, Angel Broking, shared his views on Maruti.

ET Now: Your expectations in terms of what one can expect from Maruti?

P Phani Sekhar: I do not have the detailed numbers with me but my sense is that Maruti numbers might be a little better than street expectations, both on the volume front and on the overall realisation front. But there is a larger story that is playing out on Maruti. Of course the company is on the path of recovery and with the launch of its new Alto 800, it has actually very aggressively positioned itself in the 800cc market giving a stiff competition to Hyundai. But a majority of this is already factored into the stock price.

So, I would be little careful about buying Maruti at these levels. On declines at around 1200-1250 levels, although those are numbers which are way below the current stock price, Maruti is a good bet but at current levels, one has to wait and watch.