Hold Tata Motors, says Rajesh Agarwal

Rajesh Agarwal, Head of Research at Eastern Financiers Limited told CNBC-TV18, "Going forward Tata Motors can continue to be hold. Although the standalone numbers were pretty bad, but Jaguar Land Rover (JLR) numbers have given some assurance that the company is going to do well.”

He further added, “Going purely by valuation it is trading at a huge discount to its peer group companies and the kind of monsoon we are witnessing in our country we think some rural demand is going to occur, although on the urban demand side we feel there would be pressure because of interest rates. Going forward this stock should trade in the range of Rs 350-360 in the next six months. So I would suggest a hold onto this stock." Disclosure: I do not have personal holdings in the above stock but may have recommended them to clients.