Advertisement

HindustanTimes Sat,01 Nov 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

Petrol, diesel prices cut by over Rs 2 a litre

Oil companies cut petrol and diesel prices by Rs 2.41 and Rs 2.25 a litre respectively with immediate effect on plunging global crude oil costs, a move that will aid government’s efforts to keep inflation low and stable.
markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved