Book profits in Apollo Tyres: Pritesh Mehta

Dec 31, 2013, 12.24 PM IST

Pritesh Mehta of IIFL is of the view that one may book profits in Apollo Tyres and prefer some pharmaceutical stocks, which are expecting to do well in next few months.

Tags  Pritesh Mehta of IIFL, Apollo Tyres

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Book profits in Apollo Tyres: Pritesh Mehta

Pritesh Mehta of IIFL is of the view that one may book profits in Apollo Tyres and prefer some pharmaceutical stocks, which are expecting to do well in next few months.

Like this story, share it with millions of investors on M3

Book profits in Apollo Tyres: Pritesh Mehta

Pritesh Mehta of IIFL is of the view that one may book profits in Apollo Tyres and prefer some pharmaceutical stocks, which are expecting to do well in next few months.

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Pritesh Mehta of IIFL told CNBC-TV18, "You also need to understand that  Apollo Tyres has already seen an upside of 30 percent in December in this run up to the event (Cooper Tire terminated USD 2.5 billion merger agreement with Apollo Tyres). I think for now we are done with the upside in the stock. In fact, we had a gap-up opening in today's trade, it was up by 10 percent."

"I believe that we have an intermediate top in place. So it will be the right time to book profit and try and get into some other stocks from the pharmaceutical space which are expecting to do well in next few months," he added.

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