The Wheel Of Fortune

‘Objects in the mirror are closer than they appear!’ True indeed. Even before the automobile industry could vroom out of the pandemic blues auto stocks seem to have revved up and snatched investor attention. The spike has outpaced all projections and rests on a solid chassis built to weather a rough ride. After over two years of sustained downhill drive the automobile industry slammed the brakes and took a U-turn around last August. Dispatches from most major carmakers zipped past not only the pre-Covid phase, but also the months preceding the pandemic, indicating a long-built pent-up demand and riveting India’s economic recovery. It was this premise that fuelled hopes of impressive returns when Pritesh Dinesh Jain worked on the investment blueprint for his money. The 34-year-old Mumbai resident believes that the automobile industry follows the economic cycle...