Tata Motors can test Rs 210-215: Thunuguntla

Tata Motors can test Rs 210-215 in the short term, says Jagannadham Thunuguntla of SMC Global.

Thunuguntla told CNBC-TV18, "Despite the whole host of slowdown fears in both locally and globally but still Tata Motors has been doing well, the numbers have been impressive enough even in the European segment. So overall I think the company is okay."
He further added, "One can look at Rs 210-215 level in the short term. If one has one year perspective probably it can be higher levels but I feel if the stock dips because if the market corrects I am sure Tata Motors will correct naturally because its being a Nifty stock but around Rs 160-170 probably one can have more."
"I think Mahindra and Mahindra is also looking quite impressive from the large cap space because of their diesel vehicle exposure and I think it is appearing to be lot more sweeter spot in comparison to many other automobile shares."
"Escorts has fallen all the way from Rs 240 levels to Rs 80 that is its almost available at 1/3rd price what it was one year back. The company is trading at 5 PE multiple and the company pays dividend. I feel at Rs 80 level Escorts also makes sense of course if you want to balance your portfolio slightly between the large caps as well as midcaps."