Hitesh Goel neutral on Tata Motors

Hitesh Goel, Analyst at Kotak Institutional Equities told CNBC-TV18, "Tata Motors' FY14 revenue growth on a consolidated basis will be driven by Jaguar-LandRover (JLR). JLR revenue growth could be around 20 percent this year. Also, pound has depreciated versus INR, so to that extent you could see 30 percent kind of revenue growth in FY14. But now FY14 is more or less discounted in the stock price."

"What is key is to look at FY15 volume run rate, my sense is that FY14 was the best product portfolio for JLR. Most of the launches were helping them in FY14. FY15 could be a slightly slower volume growth here because you have only major launches Freelanders which is going to come in otherwise there is no new product which can add to volumes in FY15. Although we make the longer-term story because there are many niches with JLR still has to play like the small Jaguar, they are coming with Jaguar SUV crossover which will be FY17, you will have Chinese production coming through that will help reduce the price points for Evoque, Freelander. So all these are good tailwinds for the future but just from a tactical 12-15 months perspective, I think FY15 volume growth could be slower. So we are neutral on the stock rather than being very bullish at this moment," he added.
"We like Bajaj Auto and Mahindra and Mahindra (M&M) at this juncture. We also like Motherson Sumi in the midcap space."