Bharat Electronics, Motherson Sumi, Apollo Tyres: reports by Kotak Securities

Bharat Electronics: Execution, margins and cash utilization remain unclear;
retain REDUCE

Motherson Sumi Systems: Peguform turning around faster than expected

Apollo Tyres: Why are Apollo's reported debtor days lower than peers?

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Kotak Securities PDF link:
http://www.kotaksecurities.com/pdf/indiadaily/indiadaily24092012rs.pdf