Buy Ashok Leyland at lower levels: Gautam Trivedi, Religare Capital Markets

Gautam Trivedi, MD & Head of Equities-India, Religare Capital Markets Ltd., in a chat with ET Now, speaks about the auto sector. Excerpts:

ET Now: What is it that you like or dislike when it comes to the auto basket?

Gautam Trivedi: The CV segment will continue to be weak. There is concern about the overall macro. We have spoken to a bunch of CV players -- private and as well as the listed ones -- and there is a clear slowdown on the demand side. It is not so much the financing cost. It is more to do with the rates and that is what is a concern. But having said, there is one stock we still like within the CV space and would urge people to look at lower levels is Ashok Leyland. It has got a great story going forward. Its joint venture with Nissan is working out very well.