Indian auto stocks trounce Asian peers on Modi’s tax bonanza
Indian auto stocks are beating their Asian peers this month by the widest margin in over a year, and analysts expect the gains to accelerate as tax cuts boost demand.The Nifty Auto Index is up 8.5 per cent this month, outpacing a 1 per cent gain for Asian peers tracked by the Bloomberg Intelligence Index and the 2.6 per cent advance in the main NSE Nifty 50 Index. Analysts from Goldman Sachs Group to Jefferies Financial Group Inc and Morgan Stanley have upgraded their recommendation for some local automaker ...