Wall Street opens slightly lower as oil falls
U.S. stocks opened slightly lower on Tuesday as weak oil prices weighed on energy stocks amid fading hopes of a deal to limit oversupply.
Reuters Market Eye - Bank of America-Merrill Lynch upgrades Tata Motors(TAMO.NS) to 'buy' from 'neutral' and raises its target price to 360 rupees from 285 rupees.
BofA-Merrill cites expectations Tata's key unit Jaguar Land Rover would meet full-year sales expectations of 363,000 units and sustain momentum.
At home, the investment bank says Tata's truck/bus unit is closer to a trough, while light commercial vehicles are "growing ahead of peers" and the utility vehicles segment is benefitting from a structural uptrend.
The domestic cars unit may not recover, Boa-Merrill adds, but says lowered expectations have been built into forecasts.
Shares in Tata Motors were last up 0.6 percent at 318.5 rupees.
(Reporting by Abhishek Vishnoi)
Indian shares closed at their lowest in nearly a month on Tuesday as a slump in European shares offset earlier gains after investors awarded the first U.S. presidential debate to Hillary Clinton over Donald Trump.
MUMBAI Economic Affairs Secretary Shaktikanta Das said the new six-member Monetary Policy Committee, which will set interest rates, will meet before the Reserve Bank of India's (RBI) policy review on Oct. 4 and give their recommendations.