Ambareesh Baliga, Independent Analyst advised buying Tata Motors, if it falls by another Rs 25-30 per share.
Baliga told CNBC-TV18, “If I see another dip of Rs 50-60 more from here in SBI, clearly at those levels it becomes a buy. Dr Reddys has been on the buy radar for quite a while. Tata Steel at these levels I really don’t see much downside because already it has corrected from those Rs 428-430 levels to the current levels. I think the downside is just about another Rs 5-8 from here. So I think at these levels it would be bought.”
“Tata Motors - I will wait for a while longer. If it falls another Rs 25-30 more from here, I think at those levels I will start buying Tata Motors,” Baliga added.
Tata Motors rebounded quite sharply on Friday despite poor results in Q3, rising 2.5 percent to close at Rs 304.05 amid high volumes on Bombay Stock Exchange.