MUMBAI Goldman Sachs cut its rating on Housing Development Finance Corp Ltd(HDFC.NS) to "sell" from "neutral", on expectations that India's economy would recover at a "modest" pace and the prospect of rising competition.
Goldman also downgraded its target price on HDFC to 740 rupees from 790 rupees.
(Reporting by Abhishek Vishnoi; Editing by Prateek Chatterjee)
Trending On Reuters
Maggi in a soup
Nestle India Ltd will focus on growing its dairy, coffee and confectionary businesses, its new boss said, as the company battles to bring back its popular Maggi noodles that were pulled from shelves over safety concerns. Full Article