MUMBAI Jan 17 Deutsche Bank downgraded India's Bajaj Auto to "hold" from "buy", saying current valuations already factor in the company's "strong" margin performance but do not account for the risks in an "uncertain" demand environment.
Bajaj Auto on Wednesday saw its prized profit margin slip in the quarter to December, despite hitting estimates with a 3 percent rise in quarterly earnings, as rising costs and a fall in exports crimped earnings. (Reporting by Rafael Nam and Abhishek Vishnoi; Editing by Subhranshu Sahu)
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India's economic growth picked up in July-September, outpacing China on improving domestic demand and manufacturing activity, and the acceleration could persuade the country's central bank to keep interest rates unchanged at its Tuesday meeting. Full Article