Tata Motors a top pick, says Prakash Diwan

Prakash Diwan of Altamount Capital Management told CNBC-TV18, "Tata Motors continues to be one of the top-picks on the passenger side. Maruti Suzuki at lower levels I have always been advocating this is an accumulation name. But if you are scared that it will run up, it will be as lots more to go, so we could still do that."

"If you see the move that Ashok Leyland has been making and it has been so resilient. The heavy commercial vehicle benefit that we are foreseeing going forward because a lot of these load restrictions, tonnage restriction that are going to be implemented because of GST and it is very easy to correlate between what the guy is carrying and what is supposed to be carrying. So there will be a lot of demand for heavy commercial vehicles and that is going to propel Ashok Leyland further and Tata Motors of course, so it is a good combination. Tata Motors handles both the advantages but that is going to be slightly longish and medium-term," he added.