Green shoots suggested by Q1 results driving auto dispatch numbers: Dilip Bhat

In an interview with ET Niw, Dilip Bhat, Joint Managing Director, Prabhudas Lilladher, shares his view on markets. Excerpts:

ET Now: How should one read into auto dispatch numbers, for the moment interest rates have not come down, economy has not revived, disposable income has not gone up yet auto dispatch numbers have been breathtaking, why are auto numbers were breathtaking?

Dilip Bhat: It's because of couple of things, one is, of course, the base effect. Last year’s base effect was certainly there.

Second, all said and done, even if it is not so very conspicuous in terms of the recovery, probably the first quarterly numbers suggest that there are green shoots and it is manifesting more by way of some of the discretionary spends which we can see is getting reflected in the white goods where once again the same equation holds. There is no reduction in the interest rate but we are seeing the white goods being sold. Even in terms of the car, certain category of cars are doing well.

So, it just partly explains the overall thing, though very difficult to understand that why there should be such enthusiasm or such a great movement but some of these are getting reflected in these numbers.