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)
Trending On Reuters
Earthquake Strikes Nepal
A powerful earthquake struck Nepal and sent tremors through northern India on Saturday, killing hundreds of people, toppling a 19th-century tower in the capital Kathmandu and touching off a deadly avalanche on Mount Everest. Full Article
RBI chief Rajan calls for formal financing routes for farmers - report Full Article
India to host Afghan leader, seeks to regain ground lost to China, Pakistan Full Article