JP Morgan downgrades Maruti to 'underweight'
JP Morgan downgrades Maruti Suzuki to 'underweight' from 'neutral' and cut its target price to 1,510 rupees from 1,750 rupees, citing muted passenger car demand in India and increasing competition in higher value segments.
Morgan Stanley has downgraded Indian energy major Reliance Industries to 'equal-weight' from 'overweight' and cut its target price on the stock to Rs 956 from Rs 1,206.