Hero MotoCorp gains on Morgan Stanley upgrade

Shares in Hero MotoCorp Ltd gain as much as 2.4 percent after Morgan Stanley

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upgrades the motorcycle maker to "overweight" from "equal-weight" and raises its price target to 2,723 rupees from 1,747 rupees.

The investment bank cites expectations of a turnaround in the two-wheeler sector in fiscal 2015, potentially leading to stronger earnings, while also noting attractive valuations.

Shares in Hero MotoCorp were up 1.58 percent at 2,383 rupees at 2:36 p.m.

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