Positive on auto ancillary space, says Varun Goel

Varun Goel of Motilal Oswal AMC told CNBC-TV18, "Definitely the retail sales have been quite good. If you look at the two-wheeler numbers, they clearly among the two segments which are doing quite well. One is the scooter segment and second is the premium motorcycle segment. That segment will continue to do well in the times to come. As far as the four-wheeler segment is concerned, again the passenger vehicle sales at the retail level have been quite good and we believe that we will see a 10-15 percent kind of a volume growth for the rest of the year.""We believe that this urban recovery and the rural recovery we are seeing is best seen in the auto space and normally, if you see in any cycle auto is the space which leads in terms of recovery, in terms of demand and this time also, we believe it will be no different. So, we are quite positive on the original equipment manufacturer (OEM) space," he said."We are quite positive on the auto ancillary space. All those companies which are supplying to these auto OEMs would also see very robust sales numbers in the next few quarters."