Book profits in Tata Motors around Rs 208- 210, says SP Tulsian, sptulsian.com.
Tulsian told CNBC-TV18, "Tata Motors DVR also goes up in the same proportion because the discount is ruling more than 50%, I think if I am not mistaken; now it is at 52% and we have seen in fact very good performance. The monthly sales figures from Tata Motors for the last couple of months and that is probably has been leading because the share has been ruling at a PE multiple of close to about 6-7%, so one can attribute the rise in the share largely due to the value buying, but in my view the rally should stop Rs 208-210, maybe the profit booking will come at those levels, so it will not be prudent to take a long call now at this stage into Tata Motors."
He further added, " REC and PFC , both the stocks have really become very good for the traders. I don't think that the comfort is really seen for the investors who have a longer time horizon of maybe six to twelve months. But still if somebody wants to take a fundamental call or maybe an investment call probably consecutive weakness for maybe two to three days and wherever the stock corrects, I am unable to give the price levels that can really be the entry point. But otherwise these have become more as a trading stocks and I don't think that investors will really be comfortable by making investments now at the higher levels."
