Buy Tata Motors on dips, says PB Vijay

PN Vijay of askpnvijay.com told CNBC-TV18, "I would really use declines to buy Tata Motors and to a lesser extent Coal India. Tata Motors has become a very strange company. It is very difficult to think that it is a Jaguar which is really driving that company. If you look at the numbers in Jaguar they were very, very impressive, otherwise we would not have got an overall consolidated numbers that Tata Motors likely got and what is happening in Jaguar is they are building up the volumes tremendously in China.”

He further added, “The new product launches have been good and Europe is also holding up and incrementally let us be honest, things cannot get worse for Tata Motors domestically as the GDP slightly starts going up from this horrendous 4.8 percent level to 5.2-5.3 percent. There is a very strong correlation between commercial vehicle sales. So I would use the decline in Tata Motors to add to long-term positions.” “Coal India came out with very good numbers, I am very impressed. I think that coal controversies are all falling out and we are getting some very strong pricing moves by the government and Coal India, while that might hurt the steel makers. Coal India would show both volume and price growth in the months to come. So it is a good long-term buy. You may not get fireworks there, but it is a decent buy.” “Sun Pharma is a great stock, but it has gone up too much. I think the valuations are getting a bit troublesome. You have to be a brave man to buy Bharat Heavy Electricals (BHEL) right now. I would not near that."