The stocks of the morning will clearly be the auto pack. September has seen strong auto sales across the board with commercial vehicle sales being especially strong.
In an interview to CNBC-TV18, Hitesh Goel of Kotak Institutional Equities shared his reading and outlook on the same.
Initial Navratri festival has been positive for two-wheelers and passenger vehicles (PVs). Two-wheelers are seeing 7-8 percent growth in retail side, he said.
Let us wait for Diwali to get a sense of how the numbers will pan out for Q4, he added.
Freight rate hike of 10 percent was seen ahead of festive season, said Goel.
He expects flat growth for the industry this year and there can be decline in Q4, he further mentioned.
For full interview, watch accompanying video...
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