India's Hindustan Unilever falls on slew of downgrades

Wed Jan 23, 2013 9:18am IST

Related Topics

Stocks

   

MUMBAI, Jan 23 (Reuters) - Shares in Hindustan Unilever
extend their fall in pre-opening trade on Wednesday after a
number of investment banks, including Credit Suisse and Nomura,
cut their ratings on slower-than-expected volume growth and a
hike in royalty payments.
    On Tuesday, Hindustan Unilever Ltd (HUL), India's
largest consumer goods maker, reported a 16 percent jump in
third-quarter net profit, and reported low volume growth and a
rise in royalty payments. 
    At 0347 GMT, the shares were down 5 percent at 458.25
rupees.
    

 (Reporting by Manoj Dharra and Abhishek Vishnoi; Editing by
Sunil Nair)
FILED UNDER:
  • Most Popular
  • Most Shared

Pending Reform

REUTERS SHOWCASE

Power Theft

Power Theft

India to invest $4 billion to tackle power theft  Full Article 

Debt Funds

Debt Funds

India monitors foreign flows into debt funds, may tighten rules  Full Article 

Bulgari Back in India

Bulgari Back in India

CEO: we shouldn’t have left India so we’re back  Full Article 

 Hindu "Modi-fication"

Hindu "Modi-fication"

Fears grow about Hindu "Modi-fication" of education  Full Article 

Weak Credit

Weak Credit

Hard to hit tax revenue target, credit weak - Jaitley  Full Article 

China Rate Cut

China Rate Cut

China surprises with interest rate cut to spur growth  Full Article 

Gold Imports

Gold Imports

RBI cautious on response to gold import surge  Full Article 

Economic Corridor

Economic Corridor

China commits $45.6 billion for economic corridor with Pakistan  Full Article 

Overseas Funds

Overseas Funds

RBI says overseas borrowed funds can be parked with banks in India  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage