JP Morgan cuts ratings on Coal India, NMDC

Thu Jun 5, 2014 12:22pm IST

A worker sprays water over piles of coal as a bulldozer shifts coal at Mundra Port Coal Terminal in Gujarat April 2, 2014. REUTERS/Amit Dave/Files

A worker sprays water over piles of coal as a bulldozer shifts coal at Mundra Port Coal Terminal in Gujarat April 2, 2014.

Credit: Reuters/Amit Dave/Files

Related Topics

Stocks

   

Reuters Markey Eye - JP Morgan downgrades Coal India Ltd (COAL.NS) to "underweight" from "neutral", while cutting NMDC Ltd (NMDC.NS) to "neutral" from "overweight".

The investment bank says Coal India's downgrade was driven by its assessment of potential coal production and prices.

On NMDC, JP Morgan says it expected just "broadly stable" domestic iron ore prices, while noting "weak" global iron ore prices as another factor.

(Reporting by Indulal PM)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Retaining talent, reviving company

REUTERS SHOWCASE

New Plants

New Plants

Canadian auto parts maker Magna to open two new plants in Gujarat.  Full Article 

Modi's U.S. Trip

Modi's U.S. Trip

PM Modi to get rock star reception in New York.  Full Article 

Food Subsidy

Food Subsidy

Ram Vilas Paswan says no plans to raise food handouts.  Full Article 

Reduced Package

Reduced Package

Oracle's Ellison got $67.3 million as CEO in 2014  Full Article 

Importing Iron Ore

Importing Iron Ore

JSW Steel to import 10 mln T of iron ore due to local shortage.  Full Article 

Breaking Up

Breaking Up

Philips to split off lighting business, form separate company.  Full Article 

End of Monsoon

End of Monsoon

Monsoon starts withdrawing from northwest region.  Full Article 

Border Row

Border Row

Chinese and Indian troops in Himalayan standoff.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage