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Research Report Detail
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|Target Hit|| Long (1Y)
Morgan Stanley downgrades Bajaj Auto to equal-weight
Egypt's proposed ban on import of motorbikes and three-wheelers is a potential risk to Bajaj Auto's exports to the country. If Egypt's ban plays out, then exports growth assumptions would fall to 8 per cent in FY15 from 15 per cent currently. Target cut from Rs 2,124 to Rs 1,983.