Buy Tata Motors , says Anil Manghnani of Modern Shares & Stock Brokers.
Manghnani told CNBC-TV18, "Tata Motors is one of the stock when you have a sharp rally and then you go into two-three days of sideways to slightly down it becomes a buying opportunity, very similar to what happened to Voltas . We had big move to Rs 120 then it fell to Rs 107 and then again rallied to Rs 120. I think Tata Motors is in the category where it just drifted for the last two-three days after that sharp move post its numbers. So Rs 269-260 range is a good support range where one can buy. I wouldn't be surprise if it goes back to Rs 284 and eventually again retest the highs of Rs 290-292, so at least buy for Rs 284 for now."
The company's trailing 12-month (TTM) EPS was at Rs 28.63 per share. (Dec, 2011). The stock's price-to-earnings (P/E) ratio was 9.59. The latest book value of the company is Rs 63.05 per share. At current value, the price-to-book value of the company was 4.35. The dividend yield of the company was 1.46%.
