Advertisement

HindustanTimes Mon,21 Apr 2014

JP Morgan downgrades Indian shares to 'neutral', upgrades China

Reuters  Mumbai, August 20, 2013
First Published: 09:49 IST(20/8/2013) | Last Updated: 13:47 IST(20/8/2013)

J.P.Morgan has downgraded Indian shares to "neutral" from "overweight", citing strain in balance of payments, while upgrading China shares to "neutral" from "underweight".

Advertisement

The brokerage adds it is late in downgrading India, but if the rupee continues to slide it would continue to underperform.

Citi also lowered its target for India's benchmark index to 18,900 from 20,800, citing increasing uncertainty after the rupee's slide despite Reserve Bank of India's measures
since mid-July.

Advertisement
more from Business

700 trainees opt for exit plan at Nokia’s Chennai plant

Finnish handset maker Nokia, struggling to shepherd its Chennai plant into its agreement to be bought by US software giant Microsoft amid tax disputes in India, has got some success with 736 of its trainees accepting the voluntary separation scheme.
markets
Advertisement
Most Popular
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved