JP Morgan upgrades Coal India to 'neutral'
Reuters Market Eye - J.P.Morgan upgrades Coal India Ltd (COAL.NS) to "neutral" from "underweight", saying the drop in the share price this year is making the risk reward "relatively more attractive."
The investment bank expects Coal India to pay out a dividend at 45 percent and sees a likely increase in power coal sale prices.
The government's planned stake sale would be an opportunity to add the stock, J.P. Morgan adds.
Coal India shares gain 0.7 percent, after falling 16.4 percent this year, underperforming a 3.6 percent fall in the Nifty this year.
(Reporting by Manoj Dharra)
- Tweet this
- Share this
- Digg this
- Army officer takes charge in Burkina Faso, ousting general
- UPDATE 1-J.P. Morgan found hackers through breach of corporate event website -media
- 'Plastic' Halloween skulls found in Connecticut are human remains
- SEBI piles pressure on Sahara to sell overseas hotels
- J.P. Morgan found hackers through breach of corporate event website - media
Shares Hit Record
The BSE Sensex and Nifty surged to record highs for a second consecutive session on Friday after Bank of Japan's surprise expansion of its massive stimulus programme raised hopes for additional foreign inflows, boosting blue-chips such as Larsen & Toubro. Full Article
China's shadow banking sector growing rapidly, third largest in world - FSB. Full Article