Motherson Sumi top pick in auto ancillary space: Anand Tandon

In a chat with ET Now, Anand Tandon, Independent Analyst shares his view on auto ancillary space:

ET Now: Would you look at auto ancillary space at all considering your view on auto and if so, any stocks that you would have looked at recently?

Anand Tandon: One stock is something that is still worth looking at, Motherson Sumi. The growth has been fairly large and well in line, in fact better than some of the analysts’ estimates. It is still trading at about 7 times EV to EBITDA and it is not a small company by mistake.

Of course it is very heavily owned by institutions and therefore after the results it tends to give up some of the gains but otherwise, it is definitely one of the top picks in the auto ancillary space.