Given the leadership in the Automotive lighting business, strong relationships with OEMs (MSIL, HMSI & HML) LIL is a good bet to play on recovery in PV & 2W. Although Q1FY21 was a complete washed out, recovery from July onwards is encouraging with production levels having reached 80% of normal levels. Further the company is focused on cost rationalization and preserving cash to help the company tide over the disruption caused by COVID-19. We continue to believe that the long term story for Lumax is intact,...