Morgan Stanley raises Tata Motors to 'overweight'
Reuters Market Eye - Morgan Stanley upgrades Tata Motors (TAMO.NS) 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.
- Tweet this
- Share this
- Digg this
- Govt considers ban on e-cigarettes, sale of single smokes
- Islamic State fighters kill 220 Iraqis from tribe that opposed them
- India's fiscal deficit in H1 almost 83 pct of full-year target
- Muslim men over 50 pray at Jerusalem's Aqsa mosque amid tight security
- Air strikes hit Kobani as Kurdish peshmerga prepare to enter
Shares Hit Record
The BSE Sensex and Nifty surged to record highs for a second consecutive session on Friday after Bank of Japan's surprise expansion of its massive stimulus programme raised hopes for additional foreign inflows, boosting blue-chips such as Larsen & Toubro. Full Article
China's shadow banking sector growing rapidly, third largest in world - FSB. Full Article