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The downgrade follows HSBC’s move to cut India to ‘underweight’ from ‘neutral’ on Thursday.
JPMorgan downgraded Indian equities to ‘neutral’ and sharply reduced Nifty 50 price targets.
KEY POINTS
- JPMorgan cut FY27 earnings growth estimates for Indian companies by 2 percentage points to 10%.
- Foreign portfolio investors have sold a record $37 billion, but domestic inflows total $64 billion.
- JPMorgan upgraded Taiwan to ‘overweight’ due to greater exposure to AI, data centres, and semiconductors.
- India’s rupee has depreciated 10% against the dollar and is the worst-performing Asian currency in 2025.
COMPANIES
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