Prefer Tata Motors: Mehraboon Irani

Mehraboon Irani of Nirmal Bang told CNBC-TV18, "We have liked Ashok Leyland for a long time but at the present level investors can remain invested because we have got better bets with the auto pack at the present prices."

"We continue to like Tata Motors, which is a perennial holding for us and in the auto ancillary pack. We like Wabco India which according to us could be a five figure stock over the next 2-3 years," he added.