MARKET EYE-India's Tata Motors gains on new launches, value-buying
* Shares of Tata Motors Ltd gain 2.6 percent after
India's top auto maker launches two small cars - the Bolt
hatchback and Zest entry-level sedan - its first new models in
four years on Monday.
* Traders say the new models, along with buoyant sales at luxury
unit Jaguar Land Rover, are driving optimism, while
valuations are seen cheap.
* Tata Motors on Monday turned the cheapest stock on a 12-month
forward price-to-earnings basis on the BSE benchmark index
, Thomson Reuters (Frankfurt: TOC.F - news) data shows.
* Tata Motors is trading at 7.75 times of its 12-month forward
earning estimates compared to BSE index P/E of 13.63 times.
(dipika.lalwani@thomsonreuters.com /
abhishek.vishnoi@thomsonreuters.com)