Buy Tata Motors, says Mehraboon Irani

Mehraboon Irani of Nirmal Bang Securities told CNBC-TV18, "I still believe Tata Motors is possibly the best auto stock. I think the thrust to on rural income where the government is putting makes a lot of people feel Mahindra and Mahindra which is also a stock has relatively underperformed. People are looking at it favourably. People are looking at two wheeler stocks like Hero Moto and Bajaj auto considering the rural income thing. But I still feel that if you want to buy one stock, then the space has to be Tata Motors.""I think the company has performed well on the global front, despite whatever problems the global economy is facing. If we believe that over the next 12-24 months, if scenario improves as far as the environment goes, across the world, the numbers can possibly only improve. Let us also understand that the management at Tata motors has been very pro-active in whatever it is doing. So, the numbers definitely look as a positive surprise considering the environment in which we all are right now. But at the end of it all, if one looks at this company over the next 12-18 months, still many more geographies yet to be entered into for this company, one can possibly feel that Rs 345 will look a relatively low price, maybe 12-18 months down the line," he said."After the rally, maybe from the trading angle, possibly the stock could possibly right now be in a plateau, a consolidation phase, a small correction here and there, but at the end of it all, from an investment angle, if somebody has missed out buying it at Rs 280-300 levels, even at Rs 345, I feel there is money to be made."