Look at Tata Motors, says Phani Sekhar

Phani Sekhar of Karvy Stock Broking told CNBC-TV18, "We own Tata Motors in our portfolios. It continues to be on of those blue chips that is a good opportunity on declines. Consider the relative context, not just in auto space but in entire market there are very few stocks out there which have reasonable earnings visibility and still available at valuations that make sense."

"While in the larger context because of the market conditions Tata Motors might be correcting and investors should take advantage of it. We saw a very encouraging response to the rights issue, so it is not that the investors have lost hope. It is just that the trading pop might have gone. The longer term investors still favour this company," he added.