Prefer auto stocks, says Rahul Singh

Rahul Singh of Ampersand Investment Advisors told CNBC-TV18, "We like the auto space here because there is a low base in some of the companies and as we move into a period where hopefully the rural consumption as such will likely pick up from a low base which it had formed over the last few years we could look at some of the companies in that space benefitting.""Also here we are not counting only on monsoon, it is also a question of the rural expenditure, the public expenditure benefitting ultimately the rural incomes. So, what has happened is it has mostly benefitted the FMCG space but as you go on we will have to get more specific into the rural space and that is where were look at some opportunities in the auto sector," he added.