HDFC shares downgraded to 'sell' by Goldman Sachs
Reuters: Feb 22 2013, 10:15 IST
Goldman Sachs cut its rating on India's Housing Development Finance Corp Ltd (HDFC) to 'sell' from 'neutral', on expectations that Asia's third-largest 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.
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