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:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Coal Block Allocation

Coal Block Allocation

Government urges Supreme Court to not cancel some 'illegal' coal mines  Full Article 

Modi in Japan

Modi in Japan

Japan and India agree to boost strategic ties at summit  Full Article 

Basel III Norms

Basel III Norms

RBI amends Basel III guidelines for banks  Full Article 

HSBC PMI

HSBC PMI

Factory activity expands at slower clip in August.  Full Article 

Current Account

Current Account

Balance of payments surplus for third straight quarter  Full Article 

India Infrastructure

India Infrastructure

RBI rule handicaps India's infrastructure hopes  Full Article 

Book Talk

Book Talk

Reema Abbasi and a glimpse of Pakistan’s Hindu past  Full Article 

China Economy

China Economy

Retreat in China's PMIs heightens calls for policy easing.  Full Article 

Managing Share Sales

Managing Share Sales

Govt seeks bids from banks to manage PFC, REC share sales   Full Article 

Reuters India Mobile

Reuters India Mobile

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