Tata Motors may touch Rs 350: Sanjeev Prasad

Sanjeev Prasad, Senior Executive Director & Co-Head at Kotak Institutional Equities told CNBC-TV18, "We are bullish on Tata Motors , but not that much. For Rs 400 we will have to wait and see, but Rs 350 is likely and that is a fair value for the stock."

He further added, "In general we are seeing a lot more positive data points as far as rest of the world is concerned. US definitely seems to be improving. If you look at all the data points in this week in the US some of them point to sharper recovery in the US compared to the previous expectations. Europe is thankfully turning around. I do not know what is working over there, but for whatever it is worth it looks like the activity is picking up over there."

"More importantly, if you look at China which is the third pivot as far as Tata Motors is concerned; the last one month data point has been pretty positive. If you look at export numbers, import numbers, PMI numbers, everything seems to be pointing to some sort of a moderation in the GDP growth compared to the early expectations that GDP growth could go down to as low as 6 percent in the next one year. I do not think that is the case," he said.

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