Time to be picky and go for high quality and good management stocks: Pashupati Advani

economictimes.indiatimes.com:

Pashupati Advani, Founder, Global Foray, says “ in autos, there is some build up in inventory with the dealers. It is going to go through a bit of a phase of consolidation as you mentioned. I would not jump into autos at these kinds of levels, I just sit on the side. Interest rates are higher; a lot of two-wheelers and four-wheelers are financed and that is going to put some kind of a cap on the market. So just hang on, there will be ample opportunity in my opinion.”

What is your take on real estate stocks? They have been doing fairly okay for themselves of late. Again, is there a pocket that you are looking at, let us say maybe Mumbai facing real estate names or South Indian names or even NCR is coming back now?
Mumbai and NCR have lagged because there is a lot of supply and it is taking time and I do not think the flats are cheap enough. The builders are still making money and in Maharashtra they are also waiting for the FSI to be increased, in which case the builders will make even more money and more people will be crammed into the same space. We are obviously seeing some traction in good quality second tier town builders and of course the big names like DLF and all are doing fine. It is a proxy for growth in India as more and more people buy homes, people are going to come into all the real estate companies. There are lots of big ones, it is a big component of the index and therefore the sector is enjoying itself.

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What about autos? This sector is in a consolidation