M&M's short-term prospects not particularly bright: Jagannadham Thunuguntla, SMC Global Securities

In a chat with ET Now, Jagannadham Thunuguntla, Head of Research, SMC Global Securities, talks about M&M.

ET Now: The auto stocks are in a sweet uptrend; but do you think in the short term Mahindra & Mahindra is more like an 'avoid' or a 'sell'? Is one better off giving Mahindra & Mahindra a skip?

Jagannadham Thunuguntla: Yes. If somebody is looking at the medium term, I feel perhaps there may be an opportunity as the economy picks up. But in the very short term it is a different case, because if somebody is really betting on the momentum, then Maruti still looks the better bet.

I know that Maruti has rallied a lot and it is already perhaps close to the peak. But if somebody wants to bet on the momentum, maybe Maruti still has more juice left.