homemarket Newsstocks NewsHere’s why these two stocks are BoFA Securities' preferred picks in the Auto sector

Here’s why these two stocks are BoFA Securities' preferred picks in the Auto sector

Here’s why these two stocks are BoFA Securities' preferred picks in the Auto sector
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By CNBCTV18.com Jan 10, 2023 7:14:30 PM IST (Published)

BofA Securities said that both Tata Motors and TVS Motor offer a credible electric vehicle (EV) play and are now trading at a better risk/reward ratio.

BofA Securities on Tuesday listed Maruti Suzuki India Ltd. and Ashok Leyland Ltd. as its preferred plays within the Indian automotive space.

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It also upgraded both Tata Motors Ltd. and TVS Motors Company Ltd. to ‘buy’ with a price target of Rs 460 and Rs 1,250, respectively.


Explaining the reason behind the upgrade, BofA Securities said that valuations of these stocks are near their mean or a tad lower, while their earnings growth is likely to be meaningful.

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