Deutsche cuts India's Bajaj Auto to 'hold' on demand outlook

Source : REUTERS
Last Updated: Thu, Jan 17, 2013 04:05 hrs
Newly built motorbikes are seen at the Bajaj Auto Ltd plant in Pune

Deutsche Bank downgraded India's Bajaj Auto to "hold" from "buy", saying current valuations already factor in the company's "strong" margin performance but do not account for the risks in an "uncertain" demand environment.

Bajaj Auto on Wednesday saw its prized profit margin slip in the quarter to December, despite hitting estimates with a 3 percent rise in quarterly earnings, as rising costs and a fall in exports crimped earnings.

More from Sify: