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• J.P Morgan downgraded Indian wind turbine maker Suzlon Energy to "underweight" from "neutral" and cut its target price on the stock to 20 rupees from 61 rupees. Foreign currency convertible bonds repayment due next fiscal year is an overbearing concern for equity shareholders, J.P Morgan said in a note, adding sources of cash identified by the management to service the repayment "entail significant risk of disappointment." The company needs to repay $360 million in June and $209 million in October. At 11.14 a.m. (0544 GMT) the stock was up 2.55 percent at 30.20 rupees in a Mumbai market which was up 1.21 percent.

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