Nomura cuts Bajaj Auto to 'neutral' on valuations
The downgrade comes even as Nomura says it still believes Bajaj Auto can continue to beat market leader Hero MotoCorp over the next few months.
Bajaj Auto has gained 30.8 percent so far this year versus a 25 percent gain in the BSE index and a fall of 2.2 percent in Hero MotoCorp.
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