India Investment, Stocks, Credit Card and Retail Forum
Investments in Indian Equity and Research => India Stocks and Shares => Topic started by: komal on July 10, 2012, 09:16:07 AM
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Indian Automobile sector is Chasing an elusive recovery and investors must stay defensive. Reiterate Buy on Bajaj Auto (on CL), Tata Motors and Hero Motocorp for their exposure to underlying growth and industry-leading returns on capital.
Target Prices are as follows,
Bajaj Auto Rs 2327
Tata Motors - 332
Hero Motocorp 2448
Upgrading Apollo Tyre to Buy from Neutral, as it is currently trading close to trough P/B and EV/GCI multiples, and for its exposure to replacement tyre demand and weakening natural rubber prices. Target Price of 96
Bharat Forge and Maruti Suzuki are a SELL with Target price of 255 and 929 respectively.