Mehraboon Irani of Nirmal Bang Securities told CNBC-TV18, "From an investment angle we have liked Tata Motors as our best bet and we continue to like it. But whatever has happened in M&M is reason enough to turn a little bit more positive than what one was as a decent safe bet in the auto sector. The reasons are simple, if it was an outright purchase the market would not have liked it. It is largely cash neutral 13.5 percent stake in CIE Automotive. Apart from that let us be honest that M&M has largely been a failure as far as the auto component business goes."
At 10:47 hrs Tata Motors was quoting at Rs 294.30, down Rs 5.25, or 1.75 percent. It has touched an intraday high of Rs 298.70 and an intraday low of Rs 293.35.
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