Good time for investors to look at the commercial vehicle segment: Phani Sekhar, Angel Broking

In a chat with ET Now, P Phani Sekhar, Fund Manager-PMS, Angel Broking shares his views about the automobile segment.

ET Now: What is the call on auto sector?

P Phani Sekhar: Frankly speaking, I am surprised by the extent of volatility that we have seen, especially in Bajaj Auto because the numbers in this kind of an environment not bad. So an 8% year on year growth is not such a bad number for the stock to lose 10%.

As far as Tata Motors is concerned, it is on more predictable lines. But the numbers coming out of JLR, especially out of emerging markets like China is not as bad as one feared. Since rate cycle seems to have peaked, it is also a good time for many investors to look at the commercial vehicle cycle. So Tata Motors may benefits from both this phenomenon. There is still another 15-20% upside in Tata Motors from a 6-9 month perspective. Whether we log in some more gains in this particular rally or we correct is a matter of detail. But there are gains to be made in Tata Motors from a 6-9 month perspective even at these levels.