Nomura, Credit Suisse cut rating on India's Hindustan Unilever
MUMBAI Jan 23 (Reuters) - A number of investment banks, including Credit Suisse and Nomura, cut their ratings on Hindustan Unilever Ltd, a day after India'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)
- Tweet this
- Share this
- Digg this
Trending On Reuters
Islamic State militants said they had beheaded a second Japanese hostage, journalist Kenji Goto, prompting Prime Minister Shinzo Abe to vow to step up humanitarian aid to the group's opponents in the Middle East and help bring his killers to justice. Full Article | Video