Jan 02, 2014, 06.13 PM IST
The gloom surrounding the auto sector is unlikely to lift before a new government is installed at the centre in May this year, according to Pravin Shah, Chief Executive – Automotive Division, Mahindra & Mahindra.
Tags Mahindra & Mahindra, auto sales
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See auto revival only post new govt formation: M&M
The gloom surrounding the auto sector is unlikely to lift before a new government is installed at the centre in May this year, according to Pravin Shah, Chief Executive – Automotive Division, Mahindra & Mahindra.
Like this story, share it with millions of investors on M3
See auto revival only post new govt formation: M&M
The gloom surrounding the auto sector is unlikely to lift before a new government is installed at the centre in May this year, according to Pravin Shah, Chief Executive – Automotive Division, Mahindra & Mahindra.
In the absence of any government actions or change in the overall sentiment, I do not see the quarter to be different than what we have seen in 2013
Shah was asked if he sees any improvement in the current economic environment. "In the absence of any government actions or change in the overall sentiment, I do not see the quarter to be different than what we have seen in 2013," he said. "I personally feel the challenges will continue for the industry and the economy as a whole."
Also read: Here's how Dec fared for Maruti, Hyundai, M&M, Ford & GM
Auto sales have languished in 2013 in the wake of a slowing economy and high interest rates. M&M released its December sales numbers recently: the company sold 39,611 vehicles in the month compared to 45,297 in the same month last year.
On changes that could give a boost to the auto sector, Shah said sentiment could turn positive only after action by both the central bank and the government. "Once inflation comes under control, and we have a new government that formulates stable policies can we see some sort of revival in the industry."
"If somebody asks me to put the timeframe [for revival in sentiment] maybe 5-6 months post," he said.
M&M Financial stock price
On January 02, 2014, Mahindra & Mahindra Financial Services closed at Rs 317.30, down Rs 3.6, or 1.12 percent. The 52-week high of the share was Rs 355.90 and the 52-week low was Rs 179.00.
The company's trailing 12-month (TTM) EPS was at Rs 16.64 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 19.07. The latest book value of the company is Rs 78.34 per share. At current value, the price-to-book value of the company is 4.05.
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