UBS upgrades Maruti to 'buy' on yen weakness
MUMBAI (Reuters) - UBS upgraded its ratings on Maruti Suzuki India Ltd(MRTI.NS) to "buy" from "neutral," and raised its price target to 2,000 rupees from 1,500 rupees, noting the weakening Japanese yen over the past three months would boost earnings.
Maruti Suzuki is also well positioned to benefit from improvements in petrol car sales, UBS added.
Maruti Suzuki India Ltd (MRTI.NS) said on Friday its third quarter profit more than doubled.
(Reporting by Abhishek Vishnoi; Editing by Sunil Nair)
- Tweet this
- Share this
- Digg this
- Canada's parliament attacked near where PM Harper was speaking
- Google launches new email service dubbed "Inbox"
- UPDATE 4-U.S. tightens Ebola monitoring for West African visitors
- UPDATE 2-Divided U.S. SEC adopts mortgage rule, decries lax lending
- Air strikes kill around 25 Islamic State fighters in Iraq - residents
India could allow commercial coal mining by foreign companies if they set up units in the country, opening the door for global giants like Rio Tinto to access the world's fifth largest coal reserves, a source familiar with the matter said. Full Article