'Don't invest in auto stocks for now; PVs remain most challenging'

A comfortable valuation is always desirable but looking at the valuation from an aggregate perspective may not be very useful, says Nilesh Shah, MD and CEO at Envision Capital.

Options such as public transport and shared mobility are, essentially, creating headwinds in the demand for passenger vehicles. Relative to that, the commercial vehicle (CV) and two-wheeler space looks a lot more promising, says Nilesh Shah, managing director (MD) and chief executive officer (CEO) at Envision Capital, in a conversation with Swati Verma. Excerpts- 
 
What's your outlook for CY20? What are the factors that are expected to sway investor sentiment?
 
Outlook is positive and more constructive as compared to how the outlook has been for the last two calendar years. We seem to have bottomed out in