Auto stocks: Sharekhan said it likes Tata Motors, Bajaj Auto, Maruti Suzuki India and Hero MotoCorp. It said retail uptick in the two-wheeler segment continued, though the pace has been moderating post the festive season.
Bajaj Auto, Eicher Motors: CLSA said it has downgraded Bajaj Auto and Eicher Motors to 'Sell' from 'Underperform' falling the recent rally as valuations are pricing in double-digit volume growth over the next few years, which is unlikely.
CLSA downgraded Bajaj Auto to 'Underperform' but revised its target price on the stock upward to Rs 6,382 against Rs 5,670 earlier. It lowered its target price on Eicher Motors to Rs 4,129 from Rs 4,252.