Kothari told CNBC-TV18, "Amongst the entire auto space we are most bullish on the commercial vehicle (CV) space; if you look at two-wheelers, four-wheelers and CVs and of course Tata Motors and Ashok Leyland both are our top picks in that space and both of them look reasonably attractively valued. The CV cycle is just about four-five months in the positive cycle now, so there is still quite a long way to go for the cycle, so that's our house view and we are very bullish over there."
He further added, "Currently we have reasonably strong buy on Tata Motors and Ashok Leyland. If you only want to play the domestic CV play you may want to choose Ashok Leyland but Tata Motors has done very well and the upside on the global play might also come in over the next 12 months if the global economy stabilises and does well."
"It is very much a portfolio call - Tata Motors is of course much as a larger company and the larger fund therefore anyway keep an exposure on the stock. So its very portfolio specific and what kinds of investors are but I would pretty much look at both of them maybe on 60:40 allocation or 70:30 kind of an allocation between Tata Motors and Ashok Leyland."
