MARKET EYE-India's Maruti shares jump as CLSA upgrades to 'buy'

Mon Jan 7, 2013 10:09am IST

Related Topics

Stocks

   

* Shares in India's Maruti Suzuki gain 2.8 percent
after earlier touching its highest level since Jan 4, 2011,
after CLSA upgraded the stock to 'buy' from 'sell' with a target
price of 1,915 rupees.
* CLSA says Maruti's earnings is improving, with passenger
vehicle demand seen gradually recovering over fiscal 2014-15 on
the back of improving economic growth and falling interest
rates, according to a note dated on Saturday.    
* The brokerage also says Maruti's renewed focus on exports and
the launch of a new compact sports utility vehicle will add to
volumes.
* Earnings sensitivity to the Japanese yen will also wane
as the company builds more cars in India and boosts exports,
CLSA says. 
* CLSA's upgrade comes as the majority of analysts already have
'buy' or equivalent ratings, with 14 'buy' and 19 'outperform'
ratings, as per I/B/E/S estimates.

 (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

Market Eye

Sensex, Nifty rise to second consecutive record high

Sensex, Nifty rise to second consecutive record high

The BSE Sensex and Nifty on Friday rose to their second consecutive record highs. The 30-share Sensex surged as much as 1.3 percent to an all-time high of 27,706.80. The broader Nifty gained as much as 1.28 percent to a record of 8,275.15.  Full Article 

REUTERS SHOWCASE

Cost Cutting

Cost Cutting

PM Narendra Modi boots officials out of the first class cabin  Full Article 

Airtel Profit Jumps

Airtel Profit Jumps

Bharti Q2 net profit more than doubles   Full Article 

Leisure Riding

Leisure Riding

Harley-Davidson woos affluent young Indians with bike culture  Full Article 

Maruti Earnings

Maruti Earnings

Maruti Suzuki net profit up 29 percent, beats estimates.  Full Article 

ICICI Results

ICICI Results

ICICI Bank Q2 profit up 15 percent, beats estimates.  Full Article 

Moody's on India

Moody's on India

Moody's welcomes India's policy steps, but wants to see more.  Full Article 

End Of QE

End Of QE

U.S. Fed ends bond buying, exhibits confidence in U.S. recovery.  Full Article 

Cook Comes Out

Cook Comes Out

Apple's Cook: "I'm proud to be gay"  Full Article 

Refining Margins

Refining Margins

BPCL aims to double refining margins with refinery expansion.  Full Article 

Reuters India Mobile

Reuters India Mobile

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