Buy Tata Motors at around Rs 360: Rajesh Agarwal

Rajesh Agarwal, Director - Research of Eastern Financiers told CNBC-TV18, "Tata Motors is a buy. May be one can buy at around Rs 360 levels but if someone is a long-term investor, waiting for Rs 10-15 correction would not be prudent. Although the domestic numbers has not been that encouraging but the numbers from Jaguar-LandRover (JLR) side are quite good. Even the wholesale number which came for September was up by around 35.6 percent."

"Going forward also, we believe that despite the entire negative environment, JLR is going to do well with new launches in demand from China. Moreover, the valuations if we compare with the peer group of companies, Tata Motors stock is still trading at a lower valuation if we compare to the peer set. Hence it is a buy with a price target of Rs 410 in the next six months," he said.