PN Vijay bullish on Tata Motors

Vijay told CNBC-TV18, "The April sales of Tata Motors were a bit disappointing and to some extent you should remember that the budget steeply increased excise duties and there would have been a little bit of sales fighting at the end of the year March by sales managers at local levels, so April is a difficult month to go by."

He further added, "On the other hand I am extremely bullish about Tata Motors, it’s perhaps the best bet in the auto industry for me. The reason is if you looked at the Land rover Jaguar numbers and if you talked about it as a separate company compared to the Audi and BMW and gave the multi player, it’s about 30-35% discount to the Audi and BMW and its having globally a faster growth rate."

"So a great tailwind for Tata Motors from its global operations, which are pretty significant on a consolidated basis and India too the strong rate cut takes about 2-3 months to go through the commercial vehicle system and as you know about 95% or so of commercial vehicles in India are bought on credit by businessmen, not by individuals. So all and all I feel Tata Motors is of course in a long term uptrend but would constitute one of the best bargain hunting places somewhere a little bit below Rs 300."