Market Pulse
Sensex losers, gainers this week
It was a tough week for Indian shares as the BSE Sensex fell nearly 3 percent and the Nifty lost 3.3 percent as U.S. Fed chief Bernanke’s suggestion that stimulus measures may be scaled back at one of their next few meetings dented sentiment. Here's a look at the top Sensex losers and gainers. Full Article
REUTERS SHOWCASE
Revenge of Markets
For months, markets have been dancing to central bankers' tune, but that may now be changing, writes James Saft. Full Article
Buy, Sell or Hold?
Confused while buying stocks? Get buy, sell or hold recommendations from VantageTrade. Full Coverage
Reuters India Mobile
Get the latest news on the go. Visit Reuters India on your mobile device. Full Coverage
J.P.Morgan rates Reliance Industries at 'underweight'
India's Reliance Industries' KG-D6 facility located in the Indian state of Andhra Pradesh is pictured in this undated handout photo.
Credit: Reuters/Reliance Industries/Handout
Reuters Market Eye - J.P.Morgan's re-initiated coverage of Reliance Industries, India's biggest energy conglomerate, with an "underweight" rating and a price target of 650 rupees citing a lack of earnings growth and high valuations.
The investment bank added it had a "negative" outlook on Reliance's refining and petchem businesses, while "sustained" weakness in its downstream business would cause earnings downgrades.
J.P.Morgan added Reliance's upstream outlook was "cloudy," saying it expected natural gas production to decline in the near-term.
Reliance shares have risen 7.3 percent year to date, heavily under-performing the 13.7 percent gain in India's 50-share Nifty index.
Shares rose 1.8 percent to end at 743.3 rupees on Thursday.
(Reporting by Abhishek Vishnoi; Editing by Rafael Nam)
- Tweet this
- Link this
- Share this
- Digg this
- Reprints
Follow Reuters