Buy Tata Motors, advises Deven Choksey

Deven Choksey of KRChoksey Investment Managers told CNBC-TV18, "Definitely autos will remain one of the favourites in the market. At the same time, the corrective downside is offering a good opportunity. Tata Motors is a reasonably good pick to buy into the portfolio. Probable thing in this market valuation, you are not seeing the possibilities of the improvement in the domestic market, probably the stock has been playing in the discount right now.""Looking at the commercial vehicle (CV) segment and looking at some of the new range of products they have brought into the passenger vehicle as well, I would think that company like Tata Motors would have a reasonably better chance to operate in the domestic market. At the same time, Jaguar-LandRover (JLR) portfolio continues to offer relatively smarter models. That is where one would probably bet on and say that in the global market place also, you are going to see better performance of Tata Motors in calendar year 2016. So remain positive about this company," he said."Certainly, I would think that companies like Cipla or for that matter Sun Pharma, which is largely completing its Ranbaxy integration into the business, probably these kind of companies with the corrective price could be looked at for adding into the portfolio. I agree that the market is uncertain at this point of time but the fact remains that they are giving an opportunity at least from the valuation terms they have corrected and they could be looked at systematically."