UBS bullish on TaMo CV and Ashok Leyland, assigns 'Buy'

UBS initiated coverage on Tata Motors' commercial vehicles business with a buy rating and a ₹550 price target, citing undervaluation compared to global peers. The brokerage also reiterated a buy on Ashok Leyland, raising its price target to ₹225. UBS believes Indian CV makers are poised to narrow valuation gaps due to improving fundamentals.