Bloomberg reported that JSW Steel Limited and TATA Steel Limited were upgraded at Citigroup Inc, which said the outlook for Indian steel companies has improved amid better domestic and European prices.
The brokerage raised its rating for JSW to buy from sell and increased TATA Steel to hold from sell. It cut Steel Authority of India Limited recommendation to sell from buy saying the shares appear to have priced in the positive outlook.
(Sourced from Bloomberg)
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