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Jun 29, 2012, 02.26 PM IST
JEFFERIES-UPGRADES-MARUTI-SUZUKI:Jefferies upgrades Maruti Suzuki, shares surge
Reuters Market Eye - Maruti Suzuki
Jefferies analysts Govindarajan Chellappa and Rajasa Kakulavarapu say Maruti Suzuki say "shift towards diesel has been best exploited by Maruti," adds auto maker to benefit from a combination of cyclical and secular trends, while competition is "waning."
Separately, Bank of America-Merrill Lynch says Maruti is its preferred pick in the auto sector and is the best proxy on a cyclical recovery in the sector, especially with a slew of new products.
However, both Jefferies and Merrill Lynch downgrade Tata Motors
While Jefferies cites adverse risks to demand and a weakening product mix as Tata steps up investments, Merrill sees reduced visibility in commercial vehicle growth, among other factors.
Tata Motors shares up 1 percent.
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