The Troubled Rupee
Rupee at record low as India seen lacking options to brake fall
A top official said the government has options to stem a fall in the rupee but did not offer any specifics, turning the focus on the RBI to stem a rout that sent the rupee to record lows. Full Article
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Kotak initiates United Breweries with 'sell'
A man on a motorbike rides past the factory of United Breweries Ltd (UB) that manufactures Kingfisher beer in Thiruvalluar district of Tamil Nadu April 3, 2012.
Credit: Reuters/Babu/Files
Reuters Market Eye - 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 (UBBW.NS) falls 0.2 percent to 943 rupees.
(Reporting by Manoj Dharra)
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