Ajay Argal, Head of Indian Equities at Baring Asset Management (Asia) told CNBC-TV18, "If you look at the automobiles, even the four-wheelers, there should be a pick up in growth going forward. We have seen some of those things in the passenger car manufactures especially the market leader there is showing better growth numbers compared to the industry and gaining market share.”
He further added, “We have seen that some of the two-wheeler manufactures are gaining market share. Even if you look at a company like Bajaj Auto, you have to look at the entire business and in that business of Bajaj Auto for example there is predominance of exports. So the exports continue to do well but as far as the domestic two-wheelers are concerned, it is again part of the trend, which we have witnessed in lot of industries in India in the last three-four years that there has been a slowdown but if the economic growth picks up, which is what we are anticipating then definitely the two-wheeler industry as such will be showing healthy growth in times to come. So this is a sector definitely one should be present in as far as the portfolio is concerned.
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