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Kotak upgrades Hero Motocorp on higher earnings growth
Kotak Institutional Equities upgraded Hero MotoCorp to "add" from "sell", and maintained its "reduce" rating on Bajaj Auto.
Kotak Institutional Equities upgraded Hero MotoCorp to "add" from "sell", and maintained its "reduce" rating on Bajaj Auto.
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Reuters[/caption]
Kotak said it changes its preferred pick to Hero in the two-wheeler segment given Hero's valuation discount to Bajaj Auto.
The brokerage also expects Hero to post higher earnings growth than Bajaj.
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Reuters
First Published:Mar 07, 2013, 11:50:10 IST
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