Stay away from Tata Motors, says Phani Sekhar

P Phani Sekhar of Karvy Stock Broking told CNBC-TV18, "China is more of technical situation. We do not know where it stops. Tata Motors' China piece is much larger than the India piece. So, apart from being a largely global business, China is contributing almost more than 30 percent to its bottom line. So, that is not a very pretty scenario. There were warning signs; for the last three months or so, numbers from China were not good but you would have interpreted that as something like a de-stocking in the expectation that Tata Motors was revamping its product line there. But, now with this kind of major upsurge in the Chinese market, there will be a very fundamental question on the kind of demand that one might see in the months to follow."

"I guess it is safe idea to stay away from Tata Motors for the time being and let things settle down in China and generally for the rest of the emerging markets and then probably look at Tata Motors. I am sure that one can get it at much lower levels," he said.