Advertisement

HindustanTimes Wed,16 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

Ranbaxy: From industry poster boy to problem child

For Ranbaxy Laboratories, which is nursing a welter of festering wounds from run-ins with regulators to employee exits and penalties for felonies, a change in ownership marks yet another milestone in its nearly five-decade old history.
markets
Advertisement
Most Popular
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved