Reuters Market Eye - Ranbaxy Laboratories
A third Ranbaxy Laboratories Ltd
Jefferies downgrades Ranbaxy to "hold" from "buy", saying the risk-reward has shifted unfavourably post the U.S. Food and Drug Administration alert while Kotak has cut the shares to "reduce" from "buy".
Brokerages including HSBC, Edelweiss and Anand Rathi Research downgraded Ranbaxy on Monday, saying regulatory issues would continue to hurt the company's turnaround plans.
(Reporting by Abhishek Vishnoi)