|Chennai||Rs. 24020.00 (-0.17%)|
|Mumbai||Rs. 25020.00 (0.28%)|
|Delhi||Rs. 24450.00 (0%)|
|Kolkata||Rs. 24600.00 (-0.32%)|
|Kerala||Rs. 24050.00 (0%)|
|Bangalore||Rs. 24160.00 (-0.17%)|
|Hyderabad||Rs. 24030.00 (-0.12%)|
Bank of America-Merrill Lynch upgrades Tata Motors
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.