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This is an archive article published on August 31, 2012

UBS cuts Axis Bank rating to 8216;neutral8217;

UBS downgraded Axis Bank to neutral from buy,citing increasing quality risks.

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UBS downgraded Axis Bank to neutral from buy,citing increasing quality risks,muted earnings growth and a 28 percent share price increase in the Indian lender so far this year.

UBS also cut its price target on the stock to 1,100 rupees from 1,220 rupees in a report on Friday.

Axis Bank shares were down 0.5 percent at 1,008.00 rupees as of 0351 GMT.

 

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