BofA downgrades Hindustan Unilever and Nestle India due to weak demand and rising costs.

BofA Securities downgraded Hindustan Unilever Ltd (HUL) and Nestle India Ltd due to weak demand and cost pressures. HUL's rating was lowered to 'neutral' with a target price of Rs 2,330, and Nestle India's to 'underperform' with a target price of Rs 2,140. Both companies face challenges from macroeconomic issues, inflation, and increased competition, impacting their growth and margins. HUL's stock fell 2%, while Nestle India's dropped 4%.