Bullish on automobile and auto ancillary space: Manish Gunwani, ICICI Prudential AMC

In a chat with ET Now, Manish Gunwani, Sr Fund Manager, ICICI Prudential Asset Management, shares his views on auto pack. Excerpt:


ET Now: Among autos, where is the focus?

Manish Gunwani: Auto is a very interesting space. We think autos and auto ancillaries combined, in fact it is one of our preferred cyclicals mainly due to three reasons. One is that it is in early stage cyclical which can recover fast.

Two, the balance sheets are good and three, there is an export business building out in that sector which is very promising as well. So due to these reasons, we are pretty favourable stance to the auto and auto ancillary space.