I’ve been nibbling at KPIT and CARE, for precisely the same reasons as you mention above. These companies are going to stay and seem to have hit a temporary road hump, the former in terms of sentiment due to one bad quarter and the latter possibly in terms of Amtek Auto.
I’m a little mixed on Tata Motors because I have no way yet to determine whether or not their Chinese setback is temporary or is more of a structural change, with local Chinese models starting to take share. While premium branding of JLR remains, its hard at this point for me to determine whether that will restore market share in future, or will yield to local Chinese competition. Perhaps this stock needs a little bit more margin of safety.