Ashu Madan, National Head of Religare is of the view that one shouldn't buy Tata Motors.

Madan told CNBC-TV18, "In Tata Motors the Singur fiasco will inevitably lead to the delay in the capacity ramp up and the utilization, the effects would definitely loom large and other than Singur as it is we know that there is a pressure on the competition as far as passenger car segment is concerned and this overall unless the interest rates come down, the scenario is not very good. So the rising input costs and various negatives are inbuilt right now into the stocks and I don’t see in the near future if there is anything positive for the stock. So I would not venture out buying inspite of any silver lining looking at it."

Disclosure: Analyst doesn't hold the above stock.