Tata Motors rallies to record high on brokerage upgrades

Reuters
Mumbai
First Published: 11:30 IST(9/1/2013)
Last Updated: 11:54 IST(9/1/2013)
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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.

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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.


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