Prefer Tata Motors, look at Lloyd Electric: Prakash Diwan

Prakash Diwan of prakashdiwan.in told CNBC-TV18, "I would rather continue holding what we have bought. Tata Motors is what we are riding on. It was a pair trade, go short Maruti, long Tata Motors, so that is paying off. And essentially, from the numbers that are now pending, it is the banks, State Bank of India (SBI) and Bank of Baroda (BoB) which will set the tone for the next batch of earnings for the public sector undertakings (PSU) banks. So, these are very important move from a sectoral perspective.""Other than that, I am not reading too much into ONGC and the others, that is not a sector that is really going to set itself on fire. But banks has been very mysterious this series. We have not understood why banks are getting hammered. Even if you see today, the sell-off started with banks. And a poll outcome might not impact banks as much. In fact, there are lots of better things happening like Gold monetisation and Discom repair and everything which is favourable for banks. Somewhere the markets will be reading a bit too much into the symbolic NDA setback if it happens and I have my doubts," he said."So, essentially, earnings season coming to an end is a relief, but it is very clearly the message we are taking back is that nothing has happened in terms of bottoming out, or the turnaround of the U-turn or the hockey stick has not started, so you will have to wait till January now, which means three more painful months with a lot of uncertainty.""One can also look at Lloyd Electric and Engineering."