Despite 30% surge in 2019, here's why Goldman Sachs downgraded this stock to 'sell'
Updated : December 02, 2019 01:12 PM IST
The stock has risen 30 percent in 2019 alone and nearly 40 percent in the last one year despite the ongoing consumption slowdown in the country.
Despite its stellar performance, Goldman Sachs has downgraded the stock to 'sell' with a target price at Rs 10,642, indicating a 25 percent downside.
The brokerage lowered its CY20-21E EPS estimate by 1-6 percent to reflect lower sales growth and slightly lower EBITDA margins.
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