India's Tata Motors rallies to record high on brokerage upgrades
MUMBAI Jan 9 (Reuters) - India's Tata Motors Ltd rose as much as 3.7 percent to a record high on Wednesday after Credit Suisse and CLSA upgraded their ratings on the stock, citing expectations for improving sales.
Credit Suisse raised Tata to 'outperform' from 'underperform', noting the automaker could post much-stronger-than-expected Range Rover sales, especially in China.
CLSA raised Tata to 'buy' from 'outperform', citing optimism about new product launches.
Tata shares were up 3.1 percent as of 0406 GMT, after earlier hitting a record high of 325.80 rupees and outperforming a 0.2 percent gain in the NSE index. (Reporting by Manoj Dharra and Rafael Nam; Editing by Anand Basu)
- Tweet this
- Share this
- Digg this
- São Paulo running out of water as rain-making Amazon vanishes
- Maker of U.S. highway guardrails stops shipments over safety concerns
- Woman isolated in NJ under Ebola rules tests negative
- Iran hangs woman convicted of killing alleged rapist
- Reuters Poll - India's growth pace to pick up as reforms draw investment
Finance Minister Arun Jaitley favours a cut in interest rates to trigger demand in the construction sector, a newspaper report said on Saturday, but the Reserve Bank of India (RBI) has signalled it will not ease policy until it is confident of lower inflation. Full Article
Euro zone risks "relapse into recession" without structural reforms - Draghi. Full Article
Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw” Full Article