JP Morgan cuts ratings on Coal India, NMDC
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)
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DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.
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The government made a push on Wednesday to bolster its strained finances, offering to sell a stake in miner Coal India and more mobile phone airwaves as it aimed to deliver on a promise to trim its fiscal deficit. Full Article