Auto and auto-ancillary companies had shut down for 10 days in Pune last month. The industry association is projecting no growth. And yet neither analysts nor the media are reporting anything negative. Many of the stocks are at their 52-week highs. What is the truth?
Aditya Govindaraj
There has been something unusual going on in the last few weeks in the automotive and auto ancillary sectors. One of our sources in Pune tells us that automobile and auto ancillary companies in the city were shut down for 10 days in December. The closure was not scheduled. The reason is lack of demand, forcing most of the units in this auto belt to reluctantly shut down.
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