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Do not invest in auto stocks in near term, says Ajay Srivastava of Dimensions

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Ajay Srivastava, CEO of Dimensions Corporate Financial Services, spoke to CNBC-TV18 about the 2019 general election results.

Ajay Srivastava, CEO of Dimensions Corporate Financial Services, spoke to CNBC-TV18 about the 2019 general election results.
"The victory for incumbent government goes to say great things for the organisation and the leadership – their never say die attitude. However, post the euphoria, reality will step-in as to where the economy is and the focus needs to be on the 6-7 states which are under drought conditions", said Srivastava.
“So, nothing will change unless there is an ideological change in policy direction with respect to real estate, with respect to infrastructure, with respect to small and medium companies and if that happens then there will be quantum change in the way market moves, otherwise ‘more the change, more the things will remain the same," said Srivastava.
When asked if one should buy into the auto space at current levels, he said, "If you have a three-year perspective then you can invest but if you have six-month perspective then do not because there may not be any revival in the near term. In the near-term, the government has other priorities for the next six months than to worry about car sales. So, over the longer terms perspective they could make decent returns from current levels."

Market Movers

CompanyPriceChange%Gain
TATA Cons. Prod735.90 16.40 2.28
NTPC119.80 2.00 1.70
Nestle17,965.20 280.40 1.59
ONGC126.70 1.35 1.08
HUL2,407.90 15.95 0.67
CompanyPriceChange%Gain
Nestle17,972.45 292.95 1.66
NTPC119.80 1.90 1.61
ONGC126.65 1.30 1.04
Bajaj Finserv11,889.85 90.80 0.77
HUL2,409.15 18.00 0.75
CompanyPriceChange%Gain
TATA Cons. Prod735.90 16.40
NTPC119.80 2.00
Nestle17,965.20 280.40
ONGC126.70 1.35
HUL2,407.90 15.95
CompanyPriceChange%Gain
Nestle17,972.45 292.95
NTPC119.80 1.90
ONGC126.65 1.30
Bajaj Finserv11,889.85 90.80
HUL2,409.15 18.00

Currency

CompanyPriceChng%Chng
Dollar-Rupee73.32250.01000.01
Euro-Rupee88.8080-0.1220-0.14
Pound-Rupee103.48400.18500.18
Rupee-100 Yen0.66670.00060.09