Future of auto stocks looks bright: Jyotivardhan Jaipuria, HoR, BofA-ML

In an interview with ET Now, Jyotivardhan Jaipuria, HoR, BofA-ML, shares his views on the auto space.

ET Now: Do you think there can be any sign of a recovery when it comes to demand in the auto space?

Jyotivardhan Jaipuria: I do not think the auto demand would be strong for the next few months. Though the auto demand is not good now, we are nearing signs of a bottom and at some stage, the sector will start to pick up. The valuations have factored sales, which are probably at cyclical lows and we see a recovery, beyond a point. I do not think sale numbers, per se, will excite the market. They will be good, but the hope is more on the point that the bottom of the cycle is in sight and the future looks better.