Q4 net falls 6.9 percent, lags forecast
Larsen and Toubro Ltd (L&T) posted a worse-than-expected 6.9 percent fall in quarterly profit as interest costs jumped for India's biggest engineering and construction company. Article | Full Coverage
REUTERS SHOWCASE
Buy, Sell or Hold?
Confused while buying stocks? Get buy, sell or hold recommendations from VantageTrade. Full Coverage
Reuters India Mobile
Get the latest news on the go. Visit Reuters India on your mobile device. Full Coverage
BofA-Merrill downgrades Dr Reddy's to 'neutral'
Track Markets: BSE Sectoral Indices
Track and analyse performance of all BSE sectoral indices and other global indices on a single page. Full Coverage
A pharmacist gives free medicine provided by the government, to a patient inside a government hospital in Kolkata July 3, 2012.
Credit: Reuters/Rupak De Chowdhuri/Files
MUMBAI |
MUMBAI (Reuters) - Bank of America-Merrill Lynch downgraded its rating on Dr. Reddy's Laboratories Ltd(REDY.NS) to "neutral" from "buy", saying "a slight" increase in core profit estimates was being offset by a fading U.S. drug pipeline and moderating growth.
"We expect multiples to be capped due to modest growth prospects," the investment bank said in an email to clients on Friday.
(Reporting by Abhishek Vishnoi; Editing by Anupama Dwivedi)
- Tweet this
- Link this
- Share this
- Digg this
- Reprints
Follow Reuters