Sunil Munjal of Hero MotoCorp says the important thing for the new government is to change the mood, which will then allow people to build confidence to start bringing investments back.
We need to have a government which is able to take tough decisions and stand by them.
Sunil Munjal
Joint MD
Hero Moto
In a CNBC-TV18 interview, Sunil Munjal, Joing MD, Hero MotoCorp shared his outlook on the impact of Lok Sabha election outcome on the auto industry and his expectations from the new government.
Below is the transcript of Sunil Munjal's interview with Latha Venkatesh & Anuj Singhal on CNBC-TV18.
Latha: How are you looking at this entire scenario, are you looking at some glorious days for India Inc as well?
A: It is clear that industry has been saying for a while, we need to have a government which is able to take tough decisions and stand by them and part of the euphoria is for this very reason that the entire pitch that the BJP and Narendra Modi made during the campaign is that they would provide a steady stable government which is decisive and which will focus on a small government but better governance.
Certainly, the industry for a while has been saying that we had a unique opportunity in the last few years to pull ahead when the entire world was going down but we got a double whammy of a slowdown globally and some indecision within the country which compounded the problem and brought the mood down, brought investments down and this is a reaction to this likely change that we are seeing but I do want to add a word of caution – I do not think anybody has a magic wand to change everything overnight. We need to temper our expectation, certainly we can expect decision making but I do not think this big ship will turnaround overnight.
The main and the important thing which does need to change is the mood which will then allow people to build confidence to start bringing investments back and bring the economy back on trend rate as we would like to see over the next 9-12 months.
Hero Motocorp stock price
On May 16, 2014, at 11:13 hrs Hero Motocorp was quoting at Rs 2591.00, up Rs 149.75, or 6.13 percent. The 52-week high of the share was Rs 2775.05 and the 52-week low was Rs 1565.95.
The company's trailing 12-month (TTM) EPS was at Rs 106.61 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 24.3. The latest book value of the company is Rs 250.70 per share. At current value, the price-to-book value of the company is 10.34.
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