MARKET EYE-Nomura cuts Bajaj Auto to 'neutral' on valuations

Mon Dec 17, 2012 9:27am IST

Related Topics

Stocks

   

* Nomura downgraded Bajaj Auto to 'neutral' from
'buy', saying the Indian auto maker's valuations of 15.5 times
fiscal 2014 earnings have priced in expectations of improving
market share.
* The downgrade comes even as Nomura says it still believes
Bajaj Auto can continue to beat market leader Hero MotoCorp
 over the next few months.
* Bajaj Auto has gained 30.8 percent so far this year versus a
25 percent gain in the BSE index and a fall of 2.2
percent in Hero MotoCorp.

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.reuters.com@reuters.net)
FILED UNDER:

Surprise Rate Cut

Reuters Showcase

Eicher Share Sale

Eicher Share Sale

Truck maker Volvo sells shares in Eicher Motors  Full Article 

Services Growth

Services Growth

Services growth at eight-month high in Feb - HSBC PMI  Full Article 

StanChart Results

StanChart Results

StanChart rules out share sale as profit plunges 25 pct  Full Article 

Bond Market

Bond Market

Bonds at 20-month highs, rupee gains after surprise rate cut  Full Article 

Jim O’Neill Interview

Jim O’Neill Interview

'India can become world’s fifth-largest economy by decade’s end'  Full Article 

Coal Imports

Coal Imports

India coal imports in Feb jump from year ago, but drop m/m  Full Article 

China Services

China Services

China Feb HSBC services PMI edges up to 52.0 as orders improve  Full Article 

Next Superhero

Next Superhero

Franchise Man swoops in to save Bollywood  Full Article 

Budget 2015

Budget 2015

Budget announcements and reactions from the industry  Full Coverage 

Reuters India Mobile

Reuters India Mobile

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