Morgan Stanley bullish on autos as GST cuts drive demand
Nifty Auto gained for a fifth day after Morgan Stanley said GST cuts could unleash "unprecedented" price reductions and lift sales. Maruti, M&M, TVS, and Eicher got target hikes, while Bajaj Auto was downgraded to 'underweight'. Analysts see margin upside and stronger re-rating, with Maruti set to benefit most from SUV launches and entry-level PV demand.