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    HomeNewsBusinessCompaniesJPMorgan cuts Bajaj Auto to underweight

    JPMorgan cuts Bajaj Auto to underweight

    JP Morgan Securities lowers its rating on Bajaj Auto Ltd to "underweight" from "neutral" and cut its target price to 1,800 rupees from 2,060.

    March 05, 2013 / 15:41 IST

    JP Morgan Securities lowers its rating on Bajaj Auto Ltd to "underweight" from "neutral" and cut its target price to 1,800 rupees from 2,060.

    JP Morgan cites a weakening outlook for two-wheeler growth due to rising fuel prices and high inflation.

    Also Read: Investors seem disinterested; Nifty to slip further: Baliga

    The investment bank also notes competition is set to intensify as rivals Hero MotoCorp Ltd and Honda Motor Co Ltd <7267.T> raise capacity.

    As of 12:35 p.m., Bajaj Auto shares are down 1.4 percent at 1,960.75 rupees.

    first published: Mar 5, 2013 12:42 pm

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