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)
Glencore speeds up debt reduction with Australian copper mine deal
MELBOURNE Glencore Plc has agreed to sell all the gold and a 30 percent stake in its Ernest Henry copper mine in Australia to Evolution Mining for A$880 million ($670 million), advancing the Swiss giant's effort to pay down debt.
Gold steady as investors await U.S. rate hike clues
Gold was trading in a narrow range on Wednesday as investors waited for clues on whether the U.S. Federal Reserve would hike interest rates this year.
Asia stocks cement gains after recent rally, oil slips
HONG KONG Asian stocks consolidated recent gains on Wednesday, helped by Wall Street's rise overnight, even as oil prices slid after a surprise build in U.S. crude stocks.