Tata Motors good value buy: Devang Mehta

Devang Mehta of Anand Rathi Financial Services told CNBC-TV18, "As China comes to a little bit of out of news type of a situation as well as Europe gains its trajectory back, we feel that Tata Motors is one stock which is quite ridiculously undervalued with all the problems that is persisting. I think of lot bad news seemed to in the price at this point and the risk reward immediately supports the stock, for example there can be 10 percent more downside for the stock."

"However, the upside can be at least 25-30 percent for somebody who has a 6-9 months horizon. So on the back of new launches and new variants which would be launched in the next 6-9 months, probably Tata Motors is a good value buy," he said.