Tata Motors top pick, may test Rs 510: Ajay Bodke

Ajay Bodke of Prabhudas Lilladher told CNBC-TV18, "Tata Motors stands out head & shoulders along with IndusInd Bank. In Tata Motors case even after a sharp rise that one has seeing, I think both the Jaguar Land Rover (JLR) piece as well as the domestic commercial piece is proceeding at a scotching pace.""Our expectation after listening to various companies in the commercial vehicle (CV) space in India makes us believe that there is still two or three quarters of strong growth that we are seeing. The light commercial vehicle (LCV) part which was lagging medium commercial vehicles (MCV) and heavy commercial vehicle (HCV) part also has started picking up pace," he added. "On the JLR side again the retail numbers that came out just a last week continue to makes us believe that the new launches that the company had as well as the ones on the anvil will continue sort of to ensure that company does well. So, Tata Motors remains a one of our top picks with the medium-term perspective. We have a price target of around Rs 510 levels in the short to medium-term there.""Our belief is that the troubles are not yet over in case of corporate focus private banks as well as public sector banks. So, our preference is IndusInd Bank and HDFC Bank on the banking side. On the corporate focus side YES Bank continues to be our liking. We expect a very strong performance to continue over the next few quarters.""Asian Paints I am worried because stock has run up very strongly and secondly, with the sharp rise that one has seen in crude prices lot of crude derivative prices also there will be an increase. Titanium dioxide is a large component of total raw material cost out there, valuations are very daunting. That is why oil marketing companies as well as paint companies one needs to be very cautious along with the aviation companies," he said.