Leaving TCS apart, other IT Companies could report strong numbers and after the sharp rise in a lot of IT companies, there was some profit booking on Monday. I think this is a good opportunity for investors who had missed the IT bus to start accumulating some of the IT companies, says Siddhartha Khemka, Head of Retail Research, MOFSL. The Nifty has hit 18,000. Last week markets rose 2%. Going forward, how intact is it looking? Tech stocks, the darlings of the last earnings season were under pressure on Monday?It was a very special day for markets with the Nifty touching a new high at 18,000. IT companies have been reporting strong numbers and even some of the global companies like Capgemini have been quoting strong numbers. In the case of TCS, there was a marginal miss on the margins front and if you ignore that, if you look at the management commentary, that is pretty strong on the demand outlook. If one looks at the jobs hiring data for TCS, that itself indicates the kind of demand, the order book that they are expecting. Leaving TCS apart, other IT companies could report strong numbers and after the sharp rise in a lot of IT companies, there was some profit booking on Monday. I think this is a good opportunity for investors who had missed the IT bus to start accumulating some of the IT companies, especially companies like Infosys, HCL Tech where valuation comfort is also there and the numbers are expected to be stronger compared to TCS. The IT counter was down but the rest of the Tata stocks performed well, specifically Tata Motors. That stock is up about Rs 33 a share. Tata Motors is trading at round Rs 415.50 a share. How does one make sense of this?Most of the Tata Group companies have been outperforming. Tata Motors is now getting things in the right place, be it the domestic market, be it in the global business that is JLR. In the global market, the passenger vehicle business is being mainly focussed on the future generation, the EV business and that is where at JLR, they are projecting the business to be. That is where the company is taking a lead and transitioning from the combustion engine to a purely EV brand in future. That is driving the global business. We are seeing the unlock trade playing out globally as well. So some of the reasons for growth in the Tata Motors passenger vehicles has been pretty strong. Now coming back home, the same passenger vehicle business which was not doing that well, has been hitting the home run one after the other. The product launches are hitting the right notes with the consumers and with the latest launch, we saw the XUV 700 getting the kind of record bookings. Tata Punch is also getting a lot of interest in the market. So, the company is ticking all the right boxes and that is getting it a lot of interest in the market. The stock had been underperforming for a long while and that has been the case for the auto sector as well. In the overall environment, where we are looking, the valuations for the market has moved up. There is a lot of sector rotation happening and people looking for value stocks where growth can be there in the future. Tata Motors fits perfectly as a global player in the EV space. The domestic passenger vehicle segment is also doing well and with the economic growth that is expected, with the unlocking of the CV cycle, could also play out in its favour. So all in all, the company is rightly placed at this current juncture and the interest in the market could continue for Tata Motors for some more time. How would you look at the two-wheeler pack because that is where probably the disruption could be slightly higher with Ola bikes and other new entrants. That is the reason why markets are worried and these stocks are not doing well?At least in the two-wheeler space, the EV disruption is clearly visible. Till now, auto companies were seeing the distribution network and serviceability a key entry barrier. However, with Ola going directly to consumers, we are now seeing how consumerism is changing and people are willing to go directly to buy products from the company online without having a physical look and that is something which is worrying the market. The market leaders in two-wheelers space -- Bajaj and Hero are both lagging a bit in launching of EVs. Hero is preparing a lot of launches which will happen next year and could help in gain a share at least in the EV space. The two-wheelers segment should have benefited from need for individual mobility post pandemic. But that did not happen. Rural economy has not yet picked up while the urban economy has done well. Some of the passenger vehicles demand was in the urban space but there again the chip problem is impacting production. But the demand is there. So, we have a unique problem in the auto industry right now. For companies which are well prepared, the demand is not forthcoming and where there is demand, there is also a supply constraints. I think niche players can continue to do well in EV space. For example, an Eicher has lined up a lot of new launches. Some of that recently launched products have not done well but I think a niche player like Eicher can still continue to grow while the larger players like Bajaj and Hero need to pull up the socks and start the launches as soon as possible.