Midcaps' valuations at historical highs, says UBS

Reuters Market Eye - Investment bank UBS turns more selective on Indian midcaps, says valuations relative to large caps are now at historical highs.

UBS cuts Cholamandalam Investment and Finance and Info Edge India to "neutral" from "buy"; downgrades TTK Prestige to "sell" from "neutral".

Top picks: Multi Commodity Exchange of India , Voltas , LIC Housing finance

Other top picks: Britannia Industries and Bajaj Electricals

(Reporting by Abhishek Vishnoi)