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UBS removes Sun Pharma, Hero MotoCorp from model portfolio
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06 Aug 2012, 02:55 PM IST 
A Dreamliner in Air India colours at an airport in Washington
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.
Copyright Thomson Reuters 2012
