Festive season boost and low base effect have helped automobile companies post better-than- expected sales numbers. Despite concerns, demonetisation will have a negative impact, says Pranoy Kurian of IDBI Capital Markets & Securities.
He believes 20 percent volumes of Maruti Suzuki is immune to demonetisation. Brezza, Baleno and exports may not be impacted as they already have orders.
However, he notes the company is also providing various offers like zero or cashless down payments to help easing off payment glitches.
He also shared his outlook on Royal Enfield and Tata Motors.
Watch video for more...