Tata Motors looks expensive: Baliga

Tata Motors is looking expensive, says Ambareesh Baliga, Market Analyst.

Baliga told CNBC-TV18, "Tata Motors - I have not been too bullish in the recent past and again looking at the growth slowdown in China which is supposed to be the major market for JLR and the slowdown which we are seeing out here, I think at these levels it seems too expensive."
He further added, "The momentum is there, so it is possible that it could move up more but I think it should be utilized to sell than to buy and I would be more comfortable at levels which we had seen recently closer to that Rs 215-220 levels."