Jun 01, 2012, 11.02 AM | Source: CNBC-TV18

Pick Tata Motors on dips: PN Vijay

Pick Tata Motors on dips, says PN Vijay, Portfolio Manager, www.askpnvijay.com.

PN Vijay, Portfolio Manager, www.askpnvijay.com
Pick Tata Motors on dips, says PN Vijay, Portfolio Manager, www.askpnvijay.com .

Vijay told CNBC-TV18, "We are planning to buy Tata Motors. It is a little part of our core portfolio because I think the results were a mix bag but they were not so bad. For the stock to fall off from about Rs 285 to Rs 230 in short time but that we have seen in a market. Market votes one way totally on a stock but then having said that, and long-term investors would take atleast six-twelve months time span."

He further added, "Tata Motors looks good because again one is underpinning that in all our excitement about the Jaguar-LandRover (JLR) story which is there of course, we are losing site of a very strong domestic business franchise that the company has and it looks now that diesel price increase is not going to take place tomorrow. So there was that fear, so I think the markets sort of recognized a slightly flattish performance and overreacted in the bearish sentiment and so Tata Motors would be one of those nice little picks to do around Rs 225 levels probably for 30% appreciation in the next 12 months, which means an outperformer vis-à-vis the Sensex."

Set email alert for


video of the day

Nifty to fall below 7500 if Q3 disappoints; GST key: Kumar

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.