India's Bajaj Auto gains after Barclays upgrade

Written by Reuters | Updated: Aug 5 2014, 15:55pm hrs
Bajaj Auto gains 2.2 percent after Barclays upgrades the stock to "overweight" from "equalweight".

Barclays says all the bad news appears to be priced in.

Demand for two-wheelers in India will accelerate to 12 and 12.3 percent for FY15 and FY16 as macro factors improve along with new launches, it says.

The brokerage also upgrades Hero MotoCorp to "equalweight" from "underweight" citing recent rally.

However, Hero shares are down 1.2 percent on caution ahead of June-quarter results.