Friday, May 6, 2011

JP Morgan downgrades SKS Microfinance

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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