Sell Tata Motors, target of Rs 394: HDFC Securities

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HDFC Securities has maintained its sell rating on Tata Motors with a target of Rs 394 in its October 15, 2008 research report. "We maintain our SELL rating on Tata Motors with a target price of Rs 394. The stock is under review and we will revise the stock price downwards due to concerns over rights issue and lackluster volume performance," says HDFC Securities' research report.

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