Jain told CNBC-TV18, “Maruti Suzuki is on our buy list considering that the volume traction has been decent and the recent launch of Ertiga and the success of the new Dzire and the new Swift models have been very good and again this traction in volumes will continue further the margins are also expected to improve. The story is very similar to Hero Motocorp, both have a very high contribution from rural areas.”
He further added, “Both these are in our buy list and with respect to Bajaj Auto I think we’ll have a market performer rating considering that it’s not fairing well in the domestic markets and further there are some pressures in the international markets where it has been operating like Sri Lanka has seen an exceptional increase in customs duties and so in that terms I think Bajaj Auto will be a market performer for us.”
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