Nifty down 11% from peak but no real value in the market: Kotak Equities
The Nifty 50 index has fallen 11% from its peak, signaling a sharp correction across Indian equities. Despite the decline, Kotak Institutional Equities remains unconvinced about market prospects, warning that there is “no real value” to be found even after the pullback, citing stretched valuations, limited earnings growth potential, and unfavorable global macroeconomic conditions. βThe…
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Tata Steel downgraded to ‘Sell’ as Kotak Institutional Equities sees risk-reward turning unattractive
Stating risk-rewards turn unattractive after the recent rally, domestic brokerage firm Kotak Institutional Equities has downgraded Tata Steel from a ‘Reduce’ rating to a ‘Sell’ rating with a target price of Rs 145, which indicates a downside of 9% from the previous closing price of Rs 159 per share. The brokerage expects Indian and European…
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