I opened a position in Tata Motors Ltd. a few days ago when the share price in Rs. dropped below 700. According to my ADR premium tracker, the premium on TTM had dropped to almost nothing (currently it is about 2%). Also TTM had dropped about 20% YTD then so I took that as a good chance to do some bottom feeding on this stock.
Tata Motors is one of India’s largest automakers and has shown consistently strong sales growth by meeting market needs. Tata also plans a 100,000 Rs. (roughly 2500$) no frills car for the Indian market and if successful expectations are for it to be a strong success. TTM, though already one of Indias largest companies has room to expand along with the growing Indian economy and it also has the potential to grow through exports (which so far are not really noteworthy).