Which India-based company does Tim Seymour think should be on your radar? Tata Motors !
Seymour likes the company for a number of reasons.
1) As the maker of the world’s least expensive car, they should benefit as more people enter the middle class in the emerging world.
2) Although the company is based in India, Tata cars are sold around the world in nations that include South Africa, Venezuela, Russia, Malaysia, Poland, and Saudi Arabia
3) Seymour also finds their results impressive. For the second quarter Tata profits doubled with the firm easily blowing past Street estimates.
However, it's not all whipped cream and cherries. From a technical standpoint, the stock has been hitting significant resistance around $13.
All things considered, what’s the trade?
At around $12.36 I’d start building a position, says Seymour. It’s a great long-term play on emerging auto growth.