Valuations across several automobile names have run ahead of themselves, according to Vijay Bharadia, Managing Partner & CIO at Wallfort PMS — but he sees the sector’s growth story as far from over, given how low India’s per-capita car ownership still is compared with other markets.
On electric vehicles, Bharadia expects the shift to stay gradual: charging infrastructure hasn’t scaled yet, so internal-combustion-engine demand should hold up for several more years, until EV infrastructure matures or battery-storage technology takes a meaningful step forward.