"Prefer to play the auto industry through auto ancillaries where opportunities still exists. We like Bharat Forge and Samvardhana Motherson. There is little opportunity or margin of error in the high buzz four-wheeler, two-wheeler spaces. While the stock market has yet to rerate Bharat Forge fully, the company offers a benefit through India's Make in Defence programme and can be approached from a medium to long-term investment perspective."
