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UBS expects 'no material impact' on DLF from activist accusations

MUMBAI, Oct 11 (Reuters) - UBS said it expects limited impact on DLF Ltd's business following recent accusations by anti-corruption activists of improper dealings with the son-in-law of ruling Congress Party chief Sonia Gandhi and the northern state of Haryana.

"With the stock down 11 percent on the back of this news flow, and our expectation of no material impact on DLF's business - we believe concerns are largely priced in," UBS said in a note dated on Wednesday.

DLF has denied accusations of improper dealings. UBS maintained a 'buy' rating on the company.

(Reporting by Rafael Nam and Abhishek Vishnoi; Editing by Prateek Chatterjee)

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Keywords: DLF RESEARCH/UBS