HDFC shares down on infra bond impact worries
Jul 16 2014 , Mumbai
UBS downgrades HDFC to "neutral" from "buy" and cuts price target to 1,075 rupees from 1,100 rupees.
The investment bank says HDFC could be impacted by more aggressive pricing on loans by banks, while competition to raise long-term bonds could push up long-term rates.
HDFC shares down 2.2 percent at 0416 GMT.