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
- Kerry seeks Qatari, Turkish help to find Israeli soldier
- India says WTO deal not dead, can sign in Sept if concerns addressed
- UPDATE 4-African leaders agree steps to fight runaway Ebola outbreak
- Gaza truce over, Israel soldier captured, 70 dead in Rafah shelling
- Nine reasons why India's WTO veto shocked the world
Prime Minister Narendra Modi came to office with a reputation as a business-friendly leader ready to open up one of the world's biggest markets and sweep away the remnants of the country's socialist past. Full Article