Goldman Sachs decreased Hero Honda, M&M

Goldman Sachs decreased Hero Honda, M&MGoldman Sachs decreased motorcycle producer HeroHonda as well as utility vehicles producer Mahindra & Mahindra to-sell, from neutral and buy-ratings respectively.

“We feel Hero Honda observed the maximum margin drop in accordance with the industry while in the strong need momentum in 2010, and feel margins could come under additional pressure because of moderating development over FY12/13,” expert Sandeep Pandya mentioned in a note

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