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)
Trending On Reuters
The double-digit stock market gains of pharmaceutical giants including Dr. Reddy's Laboratories and Wockhardt stand out in stark relief to the dismal performance of other Asian emerging-market stocks this year. Full Article