Credit Suisse upgrades Mahindra & Mahindra to 'outperform'

Wed Apr 23, 2014 4:24pm IST

A model sits on a Rodeo RZ scooter at the Mahindra and Mahindra pavilion during the Indian Auto Expo in Greater Noida, on the outskirts of New Delhi February 6, 2014. REUTERS/Adnan Abidi/Files

A model sits on a Rodeo RZ scooter at the Mahindra and Mahindra pavilion during the Indian Auto Expo in Greater Noida, on the outskirts of New Delhi February 6, 2014.

Credit: Reuters/Adnan Abidi/Files

Related Topics

Stocks

   

Reuters Market Eye - Credit Suisse upgrades Mahindra and Mahindra(M&M) to "outperform" from "neutral," saying its four-wheeler autos and commercial vehicles will benefit from even a short-lived economic recovery, while the auto-maker has "undemanding valuations."

The investment bank still has Maruti Suzuki India Ltd as its preferred pick saying it had done "an excellent job of maintaining its marketshare and stands out on all parameters needed to succeed in India."

However, Credit Suisse downgrades Tata Motors Ltd to "neutral" from "outperform" saying unit Jaguar Land Rover could see muted volume growth in the near term, in part as Evoque sales slow down.

The investment bank says it remains concerned about the two-wheeler market given the deterioration of pricing power.

M&M closed 1.24 percent higher, while Tata Motors lost 0.9 percent.

(Reporting by Abhishek Vishnoi)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Diwali Sales

Diwali Sales

Gold sales jump about 20 pct for Diwali - trade body  Full Article 

World Bank Rival

World Bank Rival

Three major nations absent as China launches W.Bank rival in Asia  Full Article 

Wal-Mart India

Wal-Mart India

Murali Lanka appointed as Wal-Mart India operations chief  Full Article 

Microsoft Earnings

Microsoft Earnings

Microsoft sales beat Street hopes, cloud profits up.  Full Article 

Special Report

Special Report

Why Madrid's poor fear Goldman Sachs and Blackstone  Full Article 

U.S. Economy

U.S. Economy

Spectre of no-inflation world looms over Fed's return to normal  Full Article 

Insider Trading

Insider Trading

Rengan Rajaratnam, SEC to settle civil insider trading charge.  Full Article 

Market Watch

Market Watch

Betting on the beaten up? Investors pin hopes on stocks in Europe, Japan.  Full Article 

India Insight

India Insight

Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw”  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage