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MARKET EYE-M.Stanley raises India's Tata Motors to 'overweight'
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* Morgan Stanley upgrades Tata Motors to 'overweight' from 'equalweight', citing more stability in the China market, the prospect for improved profitability in India, and a "strong" pipeline for unit Jaguar Land Rover, among other factors. * The upgrade comes as the investment bank raises its view on India's medium and heavy commercial vehicles (MHCV) sector to 'attractive', saying the segment cycle should hit a trough in the next six months. * Morgan Stanley predicts MHCV volumes will recover over fiscal 2014 and 2015 as part of a recovery in industrial activity. * Morgan Stanley also upgrades Ashok Leyland to 'overweight' from 'underweight' calling the bus and truck maker "a good proxy to play the eventual industrial recovery." * Tata Motors is down 1.2 percent, while Ashok Leyland is up 1.5 percent. (abhishek.vishnoi@thomsonreuters.com)
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