UBS removes Sun Pharma, Hero MotoCorp from model portfolio
Posted: Mon Aug 06, 2012 3:45 am
UBS has added Sun TV and Dr. Reddy's to its Indian model portfolio, but removed Sun Pharma and Hero MotoCorp, the investment bank said in a note on Monday.
The bank said the fiscal 2013 outlook for Dr. Reddy's is "strong", driven by the continued expansion of its U.S. business, whereas Sun Pharma has outperformed the NSE index and has "limited upside" given current valuations.
UBS added Sun TV after Arasu Cables recently agreed to carry the television broadcaster's channels.
UBS removed Hero from its portfolio, citing "muted" growth outlook for the company in the near-term because of expectations for reduced rural demand on the back of a poor monsoon season.
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The bank said the fiscal 2013 outlook for Dr. Reddy's is "strong", driven by the continued expansion of its U.S. business, whereas Sun Pharma has outperformed the NSE index and has "limited upside" given current valuations.
UBS added Sun TV after Arasu Cables recently agreed to carry the television broadcaster's channels.
UBS removed Hero from its portfolio, citing "muted" growth outlook for the company in the near-term because of expectations for reduced rural demand on the back of a poor monsoon season.
visit: www.stocktaj.com for Indian Stock Tips / Indian Stock Tips Free