HSBC cuts Indian stocks to underweight from neutral
HSBCdowngraded Indian stocks to "underweight" from "neutral", saying the debt crisis in Europe would be a drag on global equities, while at home, the country has seen no progress on fiscal consolidation or structural reforms.
"The newsflow will be probably negative for the market, making investors nervous," HSBC said in a report on Wednesday.Copyright Thomson Reuters 2012
"The newsflow will be probably negative for the market, making investors nervous," HSBC said in a report on Wednesday.Copyright Thomson Reuters 2012
JSPL hits 52-week low, falls for 3rd straight day
Jindal Steel & Powerhas been losing ground for the third consecutive session on Wednesday on concerns over de-allocation of coal blocks.
Jindal Steel & Power (JSPL) has been losing ground for the third consecutive session on Wednesday on concerns over de-allocation of coal blocks.
The stock fell nearly 9% in three days and has touched a new 52-week low of Rs 321.10, even after yesterday the Congress MP and JSPL chairman-and-managing director Naveen Jindal rubbished allegations that the company had violated norms in order to acquire coal blocks. Jindal added that the charges levied by the Opposition were baseless. .
At 10:29 hours IST, the share was trading at Rs 322.75, down 3.31% with volumes of 2,42,318 equity shares.
Market capitalisation of the company currently stands at Rs 30,171.76 crore.
Market capitalisation of the company currently stands at Rs 30,171.76 crore.
Copyright Moneycontrol
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