Ashok Leyland, Tata Motors preferred picks: Ashish Nigam

Ashish Nigam, auto analyst at Axis Capital is of the view that Ashok Leyland, Tata Motors, Eicher Motors and Motherson Sumi Systems are the prefered picks.

Ashish Nigam, auto analyst at Axis Capital told CNBC-TV18, "As far as the two wheeler sector is concerned, demand is slow at the moment especially in rural regions because the unseasonal rainfall last week have damaged lot of standing crops. So, rural demand is weak which is hurting two wheelers."

"On the car side, most dealers we interact with are very optimistic because discounts have tapered sharply. It is expected to taper even further because of all the new launches. Pent up demand is something that everyone is talking about because footfalls have increased sharply, conversions are yet to pickup and that is a sign of huge pentup demand," he
said.

"Even for commercial vehicles, our preference is for four wheelers over two wheelers. So, Maruti Suzuki  fits into that preference. In commercial vehicles, ground level monitorables are throwing up very encouraging signs. You have had freight rates which are very firm despite 11 percent crack in diesel prices last year. So, that has improved trucker profitability and as a result the commercial vehicle (CV) cycle should be much sharper than expected."

"So, our view is clearly preference for four wheelers over two wheelers and our preferred picks are companies like Ashok Leyland , Tata Motors , Eicher Motors  and Motherson Sumi Systems ," he added.

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