MUMBAI A number of investment banks, including Credit Suisse and Nomura, cut their ratings on Hindustan Unilever Ltd (HLL.NS), a day after the country's largest consumer goods maker disappointed investors with slower-than-expected volume growth and a hike in royalty payments.
Credit Suisse cut its rating on Hindustan Unilever to "neutral", while domestic brokerage IDFC downgraded it to "underperformer".
CLSA cut the company to "sell" from "outperform," while Nomura cut its rating to "reduce" from "neutral".
(Reporting by Abhishek Vishnoi and Manoj Dharra; Editing by Prateek Chatterjee)
Trending On Reuters
General Motors will invest $1 billion in the next few years to turn operations in India into a new global auto manufacturing and export hub aimed at boosting sales in fast-growing emerging markets, top executives said on Wednesday. Full Article