Accumulate Tata Motors DVR on dips: Rajesh Agarwal

Rajesh Agarwal of Eastern Financiers told CNBC-TV18, "I would suggest hold on to Tata Motors (DVR). Tata Motors numbers for September were very bad. Sales went down by around 37-38 percent – domestic sales. However, we are very bullish on the JLR side. JLR is doing very well with new launches planned. We think that JLR is going to add to the bottomline in a very good way. Even on the valuation parameters it is trading at a PE of single digit compared to other peer group sets. I think it is on a very low valuation and one could accumulate Tata Motors.”

“As far as DVR is concerned, international DVRs are traded at around 15-20 percent discount of their stock, but here we see that the discount is around 50 percent and it is just a matter of time when this discount shortens. So, one can definitely accumulate DVRs at all dips,” he added.