The auto stocks are bouncing back because activity levels and volume growth have improved. The medium to long-term impact on the auto volumes needs to be seen before we build further conclusions. The domestic two-wheelers market seems to have revived largely due to the rural recovery and a need for personal mobility amid coronavirus spread. So both of these factors have led to stronger volumes on the domestic side.

Share Market Live

NSE

- Harsha Upadhyaya, CIO-equity, Kotak Mutual Fund

***************

There have been a large export to China for diesel and petrol. For diesel demand to reach to 100 percent, we will need industrial activities and the construction activities to resume to a substantial extent.

- MK Surana, CMD of Hindustan Petroleum Corporation Ltd (HPCL)

***************

The demand is very robust across the entire country due to bumper rabi crop and the government steps in the beginning of the harvesting time. Farmers had a very good harvest and the procurement in the mandis was also smooth. Farmers had good cash flows.

All suppliers have ramped up well. So on the back of low stock, supply easing we are looking at a very good festive season ahead of us. We just have to make sure that the situation doesn’t worsen off in terms of COVID-19 from here.

- Hemant Sikka, President-Farm Equipment Sector, Mahindra & Mahindra

***************

The industry is improving month after month. From hereon we can expect better times. When the economy will improve, slowly the impact will start coming in the Commercial Vehicle (CV) industry as well. We are very positive as far as growth is concerned.

- Vinod Aggarwal, MD & CEO-Volvo Eicher Commercial Vehicles, Eicher Motors

***************

We still continue to be fairly heavy on the consumer and pharma sectors. We have the right allocation to the benchmark heavyweights like Reliance Industries and so on. We are more or less equal to the benchmark in terms of financials as compared to 12 months back where we were disproportionately slightly higher in financials as compared to other sectors.

- Karan Bhagat, MD & CEO, IIFL Wealth & Asset Management

*****************

The withdrawal of 2 percent in MEIS and that too in such an abrupt manner is a big issue. We are so sensitive to it is that country by country we are discussing whether to take it in one shot or to take the price increase in two shots or three shots. Even I have not gone through the detail but from whatever the headlines we have understood of the Rs 2 crore cap etc. it is nothing for us. Our benefit was Rs 20 crore a month and now we are talking of Rs 2 crore in 5 months, it does not mean anything. Our objective is to recover it and we are going to pass it on, but we have to do this in a very calibrated manner.

- Rakesh Sharma, ED of Bajaj Auto

*****************