Prefer Mahindra and Mahindra: Rajen Shah

Rajen Shah, CIO of Angel Broking told CNBC-TV18, "Tata Motors had a great run. Currently it’s quoting at about 8-8.5 times the earnings. Probably it may go to about Rs 450-470 levels, so that’s about 10 percent upside but in the auto space the stock which I like is Mahindra and Mahindra though its expensive than Tata Motors at about 14-15 times but they have very aggressive plans and the kind of models they launch they have been super duper hit in the market.”

“So Mahindra and Mahindra both on the tractor business as well as on the automotive should do very well even in the coming year and that stock can give probably better returns than Tata Motors,” he added.