Tata Motors may test Rs 375-380: Ashish Chaturmohta

Ashish Chaturmohta of Fortune Equity Brokers told CNBC-TV18, "Most of the auto counters are looking very strong since Tata Motors has crossed its all-time high above Rs 345-350 zone. So the rally may continue till Rs 375-380 zone on upside. Basically we hold a very positive view on Tata Motors."

"Apart from that Mahindra and Mahindra (M&M) is one counter which has formed a very good base at a lower level. I think a fresh rally of Rs 50-60 is possible from current levels. So we are expecting a target of Rs 910-920 in M&M from current levels," he said. At 13:30 hrs Tata Motors was quoting at Rs 357.55, up Rs 12.75, or 3.70 percent. It has touched a 52-week high of Rs 364.70. The share touched its 52-week high Rs 354.90 and 52-week low Rs 258.00 on 20 September, 2013 and 30 October, 2012, respectively. Currently, it is trading 0.75 percent below its 52-week high and 38.59 percent above its 52-week low. Market capitalisation stands at Rs 115,083.38 crore.