Tata Motors rallies to record high on brokerage upgrades

India s Tata Motors Ltd rose as much as 3.7 percent to a record high on Wednesday after Credit Suisse and CLSA upgraded their ratings on the stock cit
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Tata-Motors-rallies-to-record-high-on-brokerage-upgrades
Tata-Motors-rallies-to-record-high-on-brokerage-upgrades

India s Tata Motors Ltd rose as much as 3.7 percent to a record high on Wednesday after Credit Suisse and CLSA upgraded their ratings on the stock citing expectations for improving sales. Credit Suisse raised Tata to outperform from underperform noting the automaker could post much-stronger-than-expected Range Rover sales especially in China. CLSA raised Tata to buy from outperform citing optimism about new product launches.

Tata shares were up 3.1 percent as of 0406 GMT after earlier hitting a record high of 325.80 rupees and outperforming a 0.2 percent gain in the NSE index.

First Published Date: 09 Jan 2013, 11:30 AM IST
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