Auto sector is expensive; will not outperform in 1-2 years: Nilesh Shetty

In a chat with ET Now, Nilesh Shetty, Associate Fund Manager, Quantum Asset Management Company, gives his overview on markets.

ET Now: What is your call on the auto space in particular to four wheelers?

Nilesh Shetty: The time to add auto stocks was somewhere in November-December 2011 when valuations were extremely attractive. Now, a lot of them are factoring the good news already. Therefore, valuations are up closer to sell levels in a lot of these stocks. We are looking to trim them at the moment. So, the auto sector is expensive and not one which will continue to outperform over next one year or two years.