Reco
price Rs160, Call closure price Rs205
We had recommended a BUY on Tata Motors in our detailed
strategy note Conviction Buy Idea dated 16th August, 2011 with a target price
of Rs205 (post split). The stock has hit a high of Rs207.9 in today’s trading
session. We recommend investors to book
profit at current levels as the stock has rallied ~28% since our
recommendation. Although we remain bullish on the long term business potential
of the company, we see limited upsides from the current levels.
