Thursday, February 19, 2009

>Indian Automobiles (HSBC)

Indian Automobile Sector

# Original Equipment Manufacturers (OEMs) expect growth in
FY10 but see recovery starting from Q3FY10e

# Credit availability remains elusive; rural income has been
strong and OEMs are increasingly targeting this segment

# Retain negative stance on sector. Hero Honda remains our
key OW and Maruti Suzuki our key UW (V)

To see full report: HSBC