Morgan Stanley raises Tata Motors to 'overweight'

Tue Nov 6, 2012 2:41pm IST

Employees work inside a plant for the Tata Nano car at Sanand in Gujarat June 2, 2010. REUTERS/Amit Dave/Files

Employees work inside a plant for the Tata Nano car at Sanand in Gujarat June 2, 2010.

Credit: Reuters/Amit Dave/Files

Related Topics

Stocks

   

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.

FILED UNDER:
Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.

Earnings Season

Reuters Showcase

Obama In India

Obama In India

In parting shot, Obama prods India on religious freedom.  Full Article 

Market Rally

Market Rally

Sensex, Nifty hit record high for fifth straight session.  Full Article 

Restructuring

Restructuring

Max India to be split into three separate companies.  Full Article 

India’s Male Tenor

India’s Male Tenor

India’s lone male tenor wants to ‘Indianise’ opera  Full Article 

Indian Equities

Indian Equities

Hornbill raising $250 mln to invest in equities - partner.  Full Article 

Ratings Downgrade

Ratings Downgrade

S&P downgrades Russia's sovereign credit rating to "junk".  Full Article 

Facebook Outage

Facebook Outage

Facebook takes blame for service outages, which hit wider Web.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage