Tata Motors can reach 355 by the year end: Prakash Diwan

In a chat with ET Now, Prakash Diwan, Head-Institutional Clients Group, Asit C. Mehta Investment Intermediates Ltd, gives his views on stocks. Excerpts:

ET Now: How would you plan your entry and exit in Tata Motors?

Prakash Diwan: That is one of the stocks in the portfolio that has not seen any value revision and hence there have been very few exits from all institutional investors in the last so many months.

What could happen is if Tata Motors were to come down to the zone of 235 to 240, then possibly people would start looking at accumulating it in a significant way but at current levels, the upside that it offers in this medium term seems to be slightly capped because of the kind of concerns that we are seeing from some of the new markets that they have paved their entry into.

But once the consolidation in these markets is through, which would probably be another couple of quarters, Tata Motors is going to be in a very different growth trajectory and I would give it probably end of the year target of about 350-355. So that is a very clear straight upside and very resilient stock at that. If you like to be in autos, that is a stock you should have in your portfolio.