Tuesday, 22 November 2016

Sensex, Nifty, Midcap off day's high; L&T slips ahead of Q2 nos

Eric Vas, President of Motorcycle Business at Bajaj Auto, said that post demonetisation there has been a significant decline in the sales of 2-wheelers. It was 50 percent in rural India and 25 percent in urban areas. More importantly, decline in enquiries was down 80 percent across the country, he said. However, in the last four days, we have seen a revival in enquiries, and they have gone up by 30 percent, he added. Vas says it will be difficult to predict what will happen in the long-term, but the increase in enquires does indicate some liquidity is coming back into the market, he said. He stressed how most customers who buy two-wheelers do cash downpayments. He sees a decline of 25 percent this November in sales on a year-on-year basis. However, this currency ban won’t affect its launches, he said.
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