Web Sify
Follow us on
Mail
Print

Tata Motors rallies to record high on brokerage upgrades

Source : REUTERS
Last Updated: Wed, Jan 09, 2013 04:51 hrs
Men walk inside a Tata Motors showroom on the outskirts of Agartala

Tata Motors Ltd rose as much as 3.7 percent to a record high on Wednesday after Credit Suisse and CLSA upgraded their ratings on the stock, citing expectations for improving sales.

Credit Suisse raised Tata to 'outperform' from 'underperform', noting the automaker could post much-stronger-than-expected Range Rover sales, especially in China.

CLSA raised Tata to 'buy' from 'outperform', citing optimism about new product launches.

Tata shares were up 3.1 percent as of 0406 GMT, after earlier hitting a record high of 325.80 rupees and outperforming a 0.2 percent gain in the NSE index.


More from Sify:
blog comments powered by Disqus
most popular on facebook
talking point on sify finance