Deven Choksey , MD, DRChoksey FinServ Pvt. Ltd , says he remains reasonably optimistic about the possibilities for Tata Motors . M&M is a different story altogether.
All the new vehicles which they are booking, are for about one-and-a-half to two years of delivery schedule and that is amazing. As for Ola Electric, till they have a vision for profitability , he won’t be in a hurry to buy this particular company. The auto sector is going to be in focus today.
There is focus on Tata Motors on account of the weak JLR sales; M&M has been upgraded by CLSA with a target price above Rs 3400; Ola Electric is under the scanner of the Consumer Affairs Authorities on account of mounting complaints against the company and the service they have been providing. What is your view? Deven Choksey: Well, Tata Motors certainly, the passenger vehicle segment including the domestic portfolio as well as the JLR portfolio, on a month-on-month basis, is not a great number to talk about. But on the other hand, one is finding opportunity in the commercial vehicle segment.
The Commercial vehicles segment, structurally, is showing a good amount of growth going forward as well. The possibility of the lower interest cost is going to influence and work better for the auto companies in general, in companies like Tata Motors in particular. Despite lower numbers in September for passenger vehicles, the footfall has been extremely high in the showrooms, which is indicating that in subsequent months, that is t.
