Like Tata Motors, prefer ICICI Bank: R Sreesankar

R Sreesankar, Head-Institutional Equities at Prabhudas Lilladher told CNBC-TV18, "Tata Motors had gone down to as low as probably Rs 270-280 levels before the bounce back happened from those levels and our target price is much higher. We think that the stock has oversold itself and it should be on the recovery path. We like that entire space and we also believe that from Tata Motors on the domestic side, we need to look at this company. Global environment continues to gain, seeing that month-on-month growth which is happening which people anticipated will not happen because in one particular month when it has a sharper fall, but it has been recovering ever since that happened. On the domestic side, in terms of commercial vehicles, it continuing to do pretty well and as economy recovers, we should start to see the faster growth also happening on that side. So, we like Tata Motors from that environment.""In the financial services sector, it is a private banking sector where on should be in. Within private sector banks preferred ones include HDFC Bank. ICICI Bank is also there and we have removed IndusInd Bank from the portfolio this month because it has already had a great rally. Though ICICI Bank disappointed last quarter, we think the worst is behind them and it should continue to grow. That is why we have it in our portfolio," he said.