Auto anciliaries business needs innovation and seperate key competence which OEM may find difficult to pursue along with their core business…also auto anciliaries arenmot dependent on regulations from gov. etc.
CAMS type business imo needs no drastic innovation, R&D and its just transactional and dependent on regulations as well (directly & indirectly)
Cams type business is not comparable to auto anciliaries in this context as well…
we cannot say for sure that growth in amcs will always result in growth of transactional companies that serve them…any change in regulations can even put a question mark on existence of such businesses as well or the way the operate and make profits…
Above only my thoughts and i can be wrong in my assessments…not a biy/sell recommendation.
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