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

Drug Pricing

REUTERS SHOWCASE

Modi Speaks

Modi Speaks

PM Modi says al Qaeda will fail in India - CNN.  Full Article 

Alibaba Listing

Alibaba Listing

Alibaba surges on massive demand in trading debut  Full Article 

Importing Rice

Importing Rice

Top rice exporter India importing over 100,000 T on temporary supply squeeze.  Full Article 

GSK Fined

GSK Fined

China hands drugmaker GSK record $489 mln fine, sentences executives.  Full Article 

HMT in Demand

HMT in Demand

Fans rush to HMT as watchmaker marks time.  Full Article 

Apple Not Cool?

Apple Not Cool?

Some consumers say Apple is losing its "cool" factor  Full Article 

Reuters India Mobile

Reuters India Mobile

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