Nomura cuts Bajaj Auto to neutral on valuations

Tags: Companies
Nomura downgraded Bajaj Auto to 'neutral' from 'buy', saying the Indian auto maker's valuations of 15.5 times fiscal 2014 earnings have priced in expectations of improving market share.

The downgrade comes even as Nomura says it still believes Bajaj Auto can continue to beat market leader Hero MotoCorp over the next few months.

Bajaj Auto has gained 30.8 percent so far this year versus a 25 percent gain in the BSE Sensex and a fall of 2.2 percent in Hero MotoCorp.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Banks must learn from past mistakes to promote financial inclusion

    Prime minister Narendra Modi launched a massive financial inclusion programme yesterday titled “pradhan mantri jan dhan yojana’ (PMJDY), that will

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Could prohibition mean profiteering?

In the mid 1930s, an American journalist asked Bapu if ...

Zehra Naqvi

The five universal languages of love

Love is a universal language. Don’t we all believe that? ...

Dharmendra Khandal

Time to protect our endangered wildlife species

After 65 million years of existence, the earth’s biodiversity is ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture