"We think the increase in investments in the road transport will help the commercial vehicle sector," Ravi Pisharody of Tata Motors told CNBC-TV18.
In an interview to CNBC-TV18's Farah Bookwala Vohra, Ravi Pisharody, ED-CV Business Unit, Tata Motors says the homegrown auto major expects medium and heavy commercial vehicle (M&HCV) growth, a lead indicator of the economy, to pick up Q3 onwards.
He says M&HCV space had started seeing decline in growth January 2012 onwards. "We think the increase in investments in the road transport will help the commercial vehicle sector," he told the channel.
Below is a verbatim transcript of the interview
Q: What are the cues that you are picking up from this year's Society of Indian Automobile Manufacturers (SIAM) meet? Some very strong statements have been made by ministers. A couple of comments have been picked up and in fact being tweeted. Some of the leaders are saying that there seems to be some sort of genuineness to their statements. What is the view that you are taking on this?
A: Firstly, this year's SIAM meeting is being held under somewhat better circumstances than the last two years. Particularly, the last year was pretty gloomy in terms of the scenario around and at that time they seem very little that will change in the future. Whereas at this time, we are talking in September 2014, we have already seen in the last four-five months some recovery.
The car industry is growing and the medium and heavy commercial, which is my business, which has gone through a very terrible time for the last two-and-a-half years, is on a low base albeit has started growing. We have Mr Gadkari speaking; he has made statements specifically particularly in the area of investments in road transport and overhauling of the motor vehicles act and a few other things, which if implemented, will definitely give a big boost to the economy as such.
There is a strong link between the auto industry and the economy. So we do expect, if all those things are carried out, and the minister went out of his way to say he is sort of is promising all that will be done within one year. So if that is the case—we know from the pulse—all this does have a pay off in the auto industry.
Tata Motors stock price
On September 12, 2014, at 14:15 hrs Tata Motors was quoting at Rs 517.10, up Rs 3.00, or 0.58 percent. The 52-week high of the share was Rs 531.00 and the 52-week low was Rs 325.00.
The company's trailing 12-month (TTM) EPS was at Rs 0.08 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 6463.75. The latest book value of the company is Rs 59.58 per share. At current value, the price-to-book value of the company is 8.68.
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