MUMBAI, May 23 (Reuters) - Morgan Stanley downgraded Ashok Leyland , India's second largest commercial vehicle maker, by two notches to "underweight," saying there were no positive triggers for the stock going ahead.
All incremental catalysts are negative, including the upcoming diesel price hike and weakening freight growth trend, Morgan Stanley said in a note.
It cut its price target on the stock to 45 rupees from 83 rupees, driven by a 20 percent cut in fiscal 2012 ...
Sign in to access
this Article
"Morgan Stanley downgrades India's Ashok Leyland to underweight" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. To obtain Premium status, please contact us.
Why Become a Premium Subscriber?
WardsAuto.com Premium subscribers have access to the full breadth of Ward’s articles, news, analysis and features as well as all the Ward’s data and statistics as soon as they are available in Excel spreadsheet format. Learn more about the benefits of Premium access here.
