Nomura cuts Bajaj Auto to 'neutral' on valuations

Mon Dec 17, 2012 9:50am IST

Newly built motorbikes are seen at the Bajaj Auto Ltd. plant in Pune, about 130 km from Mumbai August 9, 2007. REUTERS/Punit Paranjpe/Files

Newly built motorbikes are seen at the Bajaj Auto Ltd. plant in Pune, about 130 km from Mumbai August 9, 2007.

Credit: Reuters/Punit Paranjpe/Files

Related Topics

Stocks

   

Reuters Market Eye - Nomura downgraded Bajaj Auto (BAJA.NS) 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 (HROM.NS) over the next few months.

Bajaj Auto has gained 30.8 percent so far this year versus a 25 percent gain in the BSE Sensex and a fall of 2.2 percent in Hero MotoCorp.

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

Record Highs

Record Highs

BSE Sensex, Nifty hit record highs, insurers gain  Full Article 

Global Growth

Global Growth

IMF cuts outlook, warns of stagnation risk in rich nations  Full Article 

Monsoon Revives

Monsoon Revives

Monsoon revival keeps rain above average   Full Article 

Wipro Results

Wipro Results

Firm sees strong sales growth, eyes Europe deals   Full Article 

Scourge of Inflation

Scourge of Inflation

Markets' post-election enthusiasm lost on consumers  Full Article 

Just Not Enough

Just Not Enough

Amazon's smartphone fails to kindle a "Fire" among reviewers.  Full Article 

Rising Market Value

Rising Market Value

Facebook goes express to mega-cap status  Full Article 

Mining Roadblock

Mining Roadblock

Coal India's plans for 20 mines hit by land, environment delays  Full Article 

Power Jolt

Power Jolt

UAE's TAQA pulls out of India power plant deal with Jaiprakash  Full Article 

Reuters India Mobile

Reuters India Mobile

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