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
U.S. President Barack Obama and new Indian Prime Minister Narendra Modi vowed on Monday to expand and deepen their countries' strategic partnership and make it a model for the rest of the world. Full Article | Full Coverage
China final HSBC PMI steady in September on stronger global demand but risks remain Full Article