We are doing well in the domestic market, says Jitendra Adhia of Atul Auto

We were up to the mark in the domestic market. In fact, with exports there are a couple of countries which are having some struggle with forex. The export number is down by 5 percent. In fact, we have some issues with African countries,” Adhia said.

Talking about margins, he said, “I do not foresee that there will be any big issue with the margin considering the overall volume which is touching 100 percent capacity utilisation for the month.”

Bharat Gianani of Sharekhan said the retail sales have shown some improvement in the festive season.

“This time October had the benefit of all 3 major festivals – Diwali, Dussehra and Navaratri being in the same month. So there was a bit of a momentum in the retail sales. Also there were some pent-up demand; in mid-September there was uncertainty whether the GST rate will come down or not. So there was some tailwind in October but whether it may sustain or not seems to be a bit of a challenge,” added Gianani.

Speaking about stocks, Gianani said, “We have a cautious view on the sector. So we have reduced ratings on Bajaj Auto, TVS Motors and Ashok Leyland.”