Short Tata Motors, says Monal Desai

One can short Tata Motors, says Monal Desai, Sunidhi Securities.

Desai told CNBC-TV18, "I would go short on Tata Motors. I think it has added another 7-8 percent on the short side. I  am looking at target of Rs 255 for Tata Motors. So, Tata Motors will be a short.”
He further added, “Conversely, if you want to see on the buy side, I would look at Bajaj Auto from that auto space for  target of Rs 1,880 to Rs 1,900.”
The share touched its 52-week high Rs 337.05 and 52-week low Rs 213.90 on 10 January, 2013 and 26 July, 2012, respectively. Currently, it is trading 21.66% below its 52-week high and 23.45% above its 52-week low. Market capitalisation stands at Rs 84,235.01 crore.
The company's trailing 12-month (TTM) EPS was at Rs 3.94 per share. (Dec, 2012). The stock's price-to-earnings (P/E) ratio was 67.01. The latest book value of the company is Rs 60.65 per share. At current value, the price-to-book value of the company was 4.35. The dividend yield of the company was 1.52%.