Sanjay Dutt, director at Quantum Securities told CNBC-TV18, "I like both Tata Motors and Mahindra and Mahindra (M&M) but we had a recent run up in them over the last two-three months. That is the reason why I have been repeatedly segregating my calls at this point of time by saying that things do look good in the automobile sector over the next two-three years."
"I would buy Tata Motors right now. It may fall 10-20 percent because we have seen a run up. In all our investment decisions price and timing always fit into the equation. While timing is against us in some of the auto plays in the immediate short-term, I would like to wait a while on a bad fortnight or a bad patch. That is the time I would like to buy auto stock. I am optimistic on them," Dutt said.
At 11:33 hrs Tata Motors was quoting at Rs 387.45, up Rs 1.50, or 0.39 percent. It has touched an intraday high of Rs 393.60 and an intraday low of Rs 382.
The share touched its 52-week high Rs 400.70 and 52-week low Rs 261.30 on 06 November, 2013 and 05 April, 2013, respectively. Currently, it is trading 3.31 percent below its 52-week high and 48.28 percent above its 52-week low. Market capitalisation stands at Rs 124,707.19 crore.
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