Who will be the number one car maker in India? Who is among the richest and best connected families in India? Who would you bet your hard earned money on in India? Tata -- my thoughts exactly.

I did not want to pay one penny over $16 for this stock and today I got it. Tata Motors LTD (NYSE: TTM) has been on my watch list of foreign companies, in rapidly expanding markets, I have had my eye on (and limit order) for quite some time. Today I was able to get it, to my surprise. I expect this to be a long-term hold with huge growth potential, bought at a value price, and paying a 4% 1.75% yield to boot. Now that's a fantastic deal all the way around.

You can see from this chart that the stock is at the low end of two years of erratic behavior following a pretty healthy climb. I never like to buy something at its high point. You can't be sure where the low point is but the purchase price is below the mean and supported by the metrics I have included from my stock screen, courtesy of AOL Money & Finance

Here is the kind of thing I love to see, a temporary event that has nothing to do with the long-term fate of Tata Motors but creates opportunity: Associated Press June 11, 2007: "Automobile shares fell, triggered by yearly fears about a weak demand during monsoon season. Tata Motors Ltd. closed down 0.3 percent at 652 rupees, TVS Motors Ltd. fell 0.9 percent to 64 rupees, and Maruti Udyog Ltd. declined 0.4 percent to 734 rupees."

The following metrics are amazing given that I am paying with a depreciating dollar. But these invested dollars should not depreciate as much in the future. Tata has a low P/E, P/S and moderate P/B. The dividend is nice, and the consistently expanding ROE substantially higher than the P/E make me sing its praises further. Given the low debt too, it all looks like I now have the long-term section of my newest portfolio roped off for value for years to come.

• Price-to-earnings P/E: 13.51 (TTM)
• Price-to-sales P/S: 1.35 (TTM)
• Price-to-book P/B: 3.78 (MRQ)
• Price-to-cash-flow P/CF: 10.25 (TTM)
• Return-on-equity ROE: 32.51 (TTM)
• Long Term Debt-to-Equity (MRQ) 0.6
• Dividend Yield 4.0% 1.75% (0.28/16.00) figure of 4.0153% on AOL M&F Fundamentalsis in error.

Those of you who are new to BloggingStocks can check out my other stories and read Chasing Value or Serious Money to find more potential opportunities and verify my track record as well. Disclosure: I own shares in TTM, as of this writing.

Sheldon Liber is the CEO of a small private investment company and the vice president for design and research at an architecture & planning firm. Check out his other posts for BloggingStocks here.

More coverage on Tata Motors and the Air Car from AutoblogGreen:

• February 8, 2007: India's Tata Motors, France's MDI announce agreement to bring Air Car to U.S.
  
• March 21, 2007: Agreement between MDI, Tata Motors brings Air Car closer to reality
• May 29, 2007: The Air Car: How compressed air propulsion works
• May 31, 2007: Video and information on Air Car's engine
  
• June 9, 2007: Interview with Miguel Celades, Sales Manager for MDI