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The Tata Motors stock was undervalued and has been out of favour for long. A bounceback of this proportion happens whenever a stock is under owned and undervalued, says
AQF Advisors.
Reliance seems to be making quite a comeback. In the last couple of sessions, it has been gathering momentum when we thought it was losing a bit of lustre.
Some amount of profit booking had come in. It also got into a consolidated base for some time. But you can see what is happening from a long-term perspective, the evolution of Reliance and the direction in which it is going and also the way foreign investors are perceiving it. For most people and most portfolios, it was a standout as a long-term buy. Between that, some amount of consolidation would probably take place from time to time and so it is not really surprising.