Every sector has a different transformation journey, the way the auto industry is getting transformed is very different from the journey of transformation which an energy company would follow. Of the sectors which have been going through structural changes and a number of them are close to a point where either companies should produce results or they would disappoint. Take the case of auto, and a year back they were close to the same inflection point. One year later as they launch their EV’s they are being re-rating. In the case of energy companies, because the transformation is different and is much more basic in nature which requires more capex, it is going to take time. Hence expectation of the similar reaction on the street should not be expected, but there is another side to it, it would be a more sustainable change on a much bigger balance sheet and long runway of growth.
