Reuters Market Eye - Shares in Housing Development Finance Corp Ltd
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.
(Reporting by Indulal PM)