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ABSL MF launches its Transportation & Logistics Fund amidst market volatility – Dhaval is happy he is getting good opportunities to buy in this correction. Biggest determinant of market direction from all the global macros we are seeing is finally crude oil prices – track that to assess impact on Indian markets.
Transportation sector has outperformed market over last 15years by over 300 bps CAGR, reflecting the market’s confidence in this secular growth story.
Low penetration and rising incomes offer secular growth runway for personal mobility sector (2 and 4 wheelers) notwithstanding the advent of superior public transportation like metros and increased acceptance of shared mobility.
70% of auto components industry serves the growing Indian market, 30% is exposed to global markets. Slowdown in Europe and potentially US at some stage may not be a concern for many auto component majors who are playing the China+1 and Europe+1 theme in a big way.
The largest players in airlines and airports offer very attractive investment opportunities as they leverage the rapidly growing air passenger traffic innovatively through multiple revenue streams.
Good discussion. I particularly liked the question on the future of auto ancillary cos.
