homemarket NewsPositive on autos, but be cautious about the EV disruption: Ridham Desai of Morgan Stanley
Positive on autos, but be cautious about the EV disruption: Ridham Desai of Morgan Stanley
Bulls took it on the chin with IT and auto stocks dragging down markets on Friday. It was no different for the week, as the Nifty and Sensex reversed last week’s gains to end lower. Check what this week's Editors' Roundtable was all about.
In this week on Editors' Roundtable, the spotlight was on the auto sector.
Speaking to CNBC-TV18, Ridham Desai, MD at Morgan Stanley India said, “We have been in a 10-year down cycle, not just five, and there is a huge amount of pent-up demand and discretionary incomes are rising.”
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He added, “So in the auto parts industry, you can buy a lot of companies, like tyres, that will not be touched by electric vehicle disruption.”
He said real estate looks good. “Real estate stocks have done very well. So buy your stocks when the valuations are in your favour. Residential demand is just about starting and is probably entering into a long-term upcycles. "
He added, "This is a little different from the 2003-2007 cycle where developers focused on buying land at cheap prices, and then making money out of it. Now, it's a more conventional real estate sector, which is driven by turnover. So I think they have matured as a real estate industry and it looks quite interesting.”
For the entire show, watch the accompanying video
(Edited by : Shoma Bhattacharjee)
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