Bet on India's Hero MotoCorp over Bajaj Auto: Kotak
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Kotak Institutional Equities upgrades Hero MotoCorp Ltd to "add" from "sell", and maintains its "reduce" rating on Bajaj Auto Ltd.
Kotak says it changes its preferred pick to Hero in the two-wheeler segment given Hero's valuation discount to Bajaj Auto.
The Indian brokerage also expects Hero to post higher earnings growth than Bajaj.
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