Tata Motors a top pick in auto space: PN Vijay

Tata Motors is a top pick in auto space, says PN Vijay, Portfolio Manager, www.askpnvijay.com.

Vijay told CNBC-TV18, “The attitude we are taking to the auto space is to avoid two wheelers for sometime because though they have very good counters like Hero MotoCorp and Bajaj Auto the working environment is very adverse for them. “
He further added, “We are quite okay about the other stocks namely Tata Motors, Mahindra and Maruti Suzuki. Given the choice one would go for Tata Motors because I won’t say their sales numbers are too bad and the stock has corrected considerably from about Rs 290 levels to about Rs 225-230 levels from which it normally bounces back. I think people like Mahindra also but my preference is for Tata Motors because my principle is when a blue chip falls you always pick it up and Tata Motors is a blue chip which is corrected a lot and going forward next one year I think they will deliver very superior earnings.”