Go Ad-Free
    My Alerts
    Moneycontrol
    Moneycontrol PRO
    HomeNewsBusinessCompaniesBofA Merrill downgrades M&M, Bajaj Auto to 'underperform'

    BofA Merrill downgrades M&M, Bajaj Auto to 'underperform'

    Bank of America Merrill Lynch downgraded automakers Mahindra and Mahindra Ltd and Bajaj Auto Ltd to "underperform" from "buy" each, citing share gains since mid-2012 and valuations it considered "not compelling."

    March 08, 2013 / 16:01 IST

    Bank of America Merrill Lynch downgraded automakers Mahindra and Mahindra Ltd and Bajaj Auto Ltd to "underperform" from "buy" each, citing share gains since mid-2012 and valuations it considered "not compelling."

    BofA Merrill also cut its price target on Bajaj Auto by 16 percent to 1,925 rupees, and its price target on Mahindra and Mahindra to 883 rupees from 965, according to its report dated March 8.

    first published: Mar 8, 2013 08:56 am

    Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

    Subscribe to Tech Newsletters

    • On Saturdays

      Find the best of Al News in one place, specially curated for you every weekend.

    • Daily-Weekdays

      Stay on top of the latest tech trends and biggest startup news.

    Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347