JPMorgan prefers Bajaj Auto and TVS Motor Company from the auto basket on Dalal Street. The brokerage remains cautious on Eicher Motors, the parent of Royal Enfield.
The brokerage has revised its rating to 'neutral' from 'overweight' with a target of Rs 5,320.
Hero MotoCorp's retail market-share has continued to decline despite its numerous launches over 18 months, according to the brokerage.
The brokerage has maintained its 'overweight' rating and raised its target for the stock to Rs 11,225 from Rs 10,400.
The brokerage has maintain a 'neutral' rating and raised its taret price for the stock to Rs 4,510 from Rs 4,435