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Aug 10, 2017 04:23 PM IST | Source: CNBC-TV18

Buy Tata Motors, says Praksah Diwan

Prakash Diwan of Altamount Capital Management recommends buying Tata Motors at the current level.

Prakash Diwan of Altamount Capital Management told CNBC-TV18, "Stock specifically if you see, the market is always full of opportunities. It is just that for traders this is absolute mayhem because this happened swift and unexpectedly. However, you always wait for these days. So look at why a Wipro is not losing ground. There is a very clear arbitrage, an opportunity for the buyback that is available at Rs 320. So, at the current market price, you still make about 10 percent plus in three months. Of course the caveat here is that it is only up to Rs 2 lakhs that you can invest."

"Look at companies like Trent, they came up with good numbers. Has not given out any of the gains but still holding strong. Tata Motors, the big punished boy of the day, I think the worst seems to be getting priced in very actively and enthusiastically by all bears. However, my sense is that this is one stock which is anyways close to its 52 week lows. What it tells you is that if you are willing to wait for the cycle to start turning, and especially the domestic passenger car segment is what I am looking at to be slightly more promising than what I can make out of rest of the market yet, it is a stock that I would definitely start buying into at these levels at Rs 380-385," he said.

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