REFILE-MARKET EYE- Kotak initiates India's United Breweries with 'sell'
(Corrects to remove extraneous word in headline) * Kotak Institutional Equities initiates coverage of United Breweries Ltd with a 'sell' rating and a target price of 700 rupees, calling valuations "too high for our comfort." * The 'sell' rating comes despite what Kotak says is a positive outlook for India's beer market, saying beer volumes will grow "strongly" over the next several years despite an adverse tax structure in the sector. * United Breweries falls 0.2 percent to 943 rupees. (email@example.com / firstname.lastname@example.org)
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India has withdrawn the drug pricing authority's powers that allowed it to fix the prices of medicines not deemed essential, after its decision to impose price caps on more than 100 drugs in July triggered industry protests. Article