TTM - entered today. Tata Motors is India's largest automobile company, trading at a single digit PE and even pays a dividend. While the Indian economy is expected to struggle a bit for the next couple years, I find this a good time to get into BRIC countries. India is behind China in modernization (democracy is messier than totalitarianism) but I'll go with the tortoise in this race (well, both actually, I own some Chinese companies too). Automobiles don't have market in India that they do in China due to poor infrastructure and poverty, but as india becomes modern, there will be a tipping point where I think owning the major car maker in India will look very prudent.
Tata's PPS collapsed following its Jaguar/Land Rover aquisition, but it seems to have found a bottom. They have a strategy for being a serious player in very low-end cars as well as higher end models through Jaguar and Land Rover. But it's not mainly exports that I'm counting on to make this a good 10-20 year investment, though that will help. Its their domestic market share.
TTM will be my main Indian company in my BRIC portfolio. And I'm replacing Russia with Vietnam (so it should be BVIC) via CVIC and Vietnam opportunity fund. Own several Chinese companies, some large, some small...But I've come to the conclusion that India and Brazil represent better opportunities for the time being.
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