JP Morgan downgrades SKS Microfinance

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JP Morgan has cut the price target of SKS Microfinance from Rs 550 to Rs 200 due to its poor business outlook.

JP Morgan expects that the company will report a loss of close to 700 crores in the current fiscal year.

The SKS microfinance stock has reacted to this downgrade and the stock has corrected more than 16% to Rs 345 this morning.

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