Accumulate Tata Motors: Ashit Suri

ET Now spoke to Ashit Suri, Fundamental Research Analyst, JV Capital Services for a fundamental check on Tata Motors.

Tata Motors, given the numbers, it is a buy for you, is there a target price?

The numbers for Tata Motors of course have beaten street estimates, outlook is very positive.

We have been very bullish on this stock since a long time. The stock has had a very good run-up from the 800 levels, so for the near term, it is possible that this stock can inch up even today morning, although the overall market cues are a little tepid but it would be more of an accumulate call from hereon because like I said, the run-up has already been done.

Going ahead of course companies like Tata Motors, Bajaj Auto, Ashok Leyland look good in this space.

Of course there are otherwise concerns on rise in commodity prices, interest costs going ahead as well as the emission norms, which will make the commercial vehicles more expensive post September.

So these are concerns one would have to see how things pan out over the next couple of quarters but as far as Tata Motors is concerned, it remains an accumulate call on dips.

As far as today is concerned, there is every possibility that we will see higher levels, the stock could inch up higher from these levels also.