UBS downgrades Hindustan Unilever to sell
UBS downgraded India's Hindustan Unilever to ``sell'' from ``buy'' on Wednesday, and cut its 12-month target price to 250 rupees from 320 earlier, saying raw material pressure and competition could hurt profits of the country's top household products and consumer goods maker.
UBS downgraded Axis Bank to ``neutral'' from ``buy'', citing ``increasing'' quality risks, ``muted'' earnings growth and a 28 per cent share price increase in the Indian lender so far this year.