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JLR to meet sales expectations: BofA Merrill Lynch

Global brokerage says sales will be driven by slew of products with far more market potential and improved pricing

Raghavendra Kamath  |  Mumbai 

and (JLR) are likely to meet are full-year sales expectation of 363,000 units in FY13 and sustain the sales momentum, says global brokerage Bank of America Merrill Lynch.

"This will be driven by a slew of products with far more market potential and improved pricing than anticipated earlier. We therefore raise our profit estimates by 15-25 per cent over FY14-15," says BofA Merrill Lynch analysts in a note to clients.

"has chalked out an extensive investment plan spanning next five years towards product development, expansion of existing facilities, and new projects (engines, assembly units). We expect 11.3% volume CAGR over FY13-15E, which is about 2x global car industry estimates," BoA ML said.

First Published: Thu, January 03 2013. 12:30 IST
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