Dabur dips 5% after Goldman Sachs downgrades stock to sell

Goldman Sachs downgraded the ratings citing high exposure to the rural sector, and core categories facing competitive intensity

Dabur India stocks slid 5 per cent to Rs 382 in morning deals on the BSE on Tuesday after global brokerage firm Goldman Sachs downgraded the stock to 'sell' from ‘neutral’.

The brokerage firm lowered the target price to Rs 334 from Rs 375 citing high exposure of Dabur India to the rural sector, and core categories -- juices, hair oil and oral care -- facing competitive intensity.

In the past one month, the stock had outperformed the market by surging 8 per cent, as compared to 2.7 per cent rise in the S&P BSE Sensex till Monday.