UBS has initiated coverage of Union Bank of India with a neutral rating and a target price of INR 150. This move is significant as it reflects UBS's cautious outlook on the bank's performance in the current market environment. Investors will be watching closely to see how the bank adapts to economic changes and whether it can meet the target set by UBS.

UBS has initiated coverage of Punjab National Bank with a neutral rating and a target price of INR 120. This move is significant as it reflects UBS's cautious outlook on the bank's performance in the current market environment. Investors may want to consider this rating when making decisions about their portfolios, as it suggests a wait-and-see approach rather than a strong buy or sell recommendation.