Speaking to CNBC-TV18 from the sidelines of the Axis Cap Conference Nigam said two-wheeler volumes have seen a sharp recovery post demonetisation lows and it has crawled back to normalcy in the months of February-March.
Ashish Nigam, Senior VP - auto & auto ancillaries at Axis Capital points out that historically commercial vehicles (CVs) have taken the lead in the recovery cycle followed by cars and utility vehicles (UVs) and then two-wheelers. As the CV segment has seen recovery, investors hope to see similar up move in cars and UV segments now.
Ashish Nigam, auto analyst at Axis Capital is of the view that Ashok Leyland, Tata Motors, Eicher Motors and Motherson Sumi Systems are the prefered picks.