Tata Motors stock closes higher on Credit Suisse upgrade

 BT Online        Last Updated: November 8, 2016  | 16:32 IST
Tata Motors stock closes higher on Credit Suisse upgrade

The Tata Motors stock rose on Tuesday amid report that Credit Suisse upgraded Tata Motors to "outperform" from "neutral".

Credit Suisse said depreciation in sterling will drive "multiyear outperformance" in its shares, while naming the auto maker as its top pick among Indian autos.

The stock was the top gainer on BSE, climbing 5.48 per cent or 27.80 points in otherwise lackluster trade.

The firm also replied to BSE that it had no comments to offer to a clarifictaion sought by BSE to a Economic Times report.

The report said a group of FIIs which own more than 10 per cent in Tata Motors has written to the board of a possibility being given access to strategic information ahead of others.

The stock closed 6.50 per cent higher at Rs 540.20 on the BSE.

 

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