Sudip Bandopadhyay, Market Expert told CNBC-TV18, "Auto stocks have been beaten down mercilessly post that demonetisation. However, unfortunately, I don’t think the worst is over. As soon as the numbers for the months start coming sometimes later this week, I think markets will kind of probably once again start selling some of these stocks."
"Numbers are definitely going to be bad and that trend will continue. We are extremely cautious on two-wheelers. Remember out of the automobile pack two-wheeler is one sector where the cash purchases were maximum and I think that is getting into a problem. If you look at commercial vehicles, if you look at the four-wheelers, there was lot of bank finance involved, so eventually November of course they will have an impact but eventually the four-wheelers and the commercial vehicles will recover faster than two-wheelers."
"Out of the entire automobile pack we have been bullish on Tata Motors. It is a great story. Almost entire profit comes from the JLR international sales. Domestic, I think commercial vehicles is showing some signs of improvement, so current level Tata Motors we are a buyer but we are cautious on rest of the automobile pack," he said.