 "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.
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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.
Reuters