Nifty futures fell more than 2 percent in trade on Thursday as the prospect of an end to the U.S. stimulus programme and a weak China manufacturing survey has sparked concerns about foreign investor selling. Nifty was below 6,000. Article | Graphic: Five-day Nifty movement
Government to pay state-run fuel retailers $8.1 billion in Q4 oil subsidy. Full Article
Confused while buying stocks? Get buy, sell or hold recommendations from VantageTrade. Full Coverage
Tata Motors target price now 360 rupees: BofA-ML
Reuters Market Eye - Bank of America-Merrill Lynch upgrades Tata Motors(TAMO.NS) to 'buy' from 'neutral' and raises its target price to 360 rupees from 285 rupees.
BofA-Merrill cites expectations Tata's key unit Jaguar Land Rover would meet full-year sales expectations of 363,000 units and sustain momentum.
At home, the investment bank says Tata's truck/bus unit is closer to a trough, while light commercial vehicles are "growing ahead of peers" and the utility vehicles segment is benefitting from a structural uptrend.
The domestic cars unit may not recover, Boa-Merrill adds, but says lowered expectations have been built into forecasts.
Shares in Tata Motors were last up 0.6 percent at 318.5 rupees.
(Reporting by Abhishek Vishnoi)
- Tweet this
- Share this
- Digg this