Friday 7 November 2008

Don't invest in auto space: Anantakrishnan

TS Anantakrishnan, Director of Prime wealth management is of the view that one should not invest in auto space at least for the next two quarters.

Anantakrishnan told CNBC-TV18, "Ashok Leyland just going to operate only on three days, so the pain is going to continue. We have had six months where credit has been difficult and interest rates weren’t coming down. We still have the same situation where the RBI and Finance Minister are trying to bring down rates and are trying to get banks to start lending more. So progressively, we think the situation would improve but for the foreseeable at least for the next two quarters, I don’t really suppose autos would be a place for one to invest."

Source: Moneycontrol

Posted by Harsh at 07:23

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