Tata Motors can test Rs 265, says Jai Bala of Cashthechaos.com.
Bala told CNBC-TV18, "Tata Motors technical structure is quite attractive. It's going to go back and challenge the highs it made in December 2010, which is about Rs 264-265. Before that it's going to do one pull back to about Rs 210-205. So if you are long at this point in time you should place the stock somewhere below Rs 205-200 and hold on to the stock. The pattern here is quite attractive and it's going to go back to test the all time high of Rs 265."
The company's trailing 12-month (TTM) EPS was at Rs 28.63 per share. (Sep, 2011). The stock's price-to-earnings (P/E) ratio was 8.18. 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 3.71. The dividend yield of the company was 1.71%.
