BSE Code: | NSE Code: | ISIN: | Sector:
Research Report Detail
|Report Date||Call||Price@Call||Target Price
|Current Status||Time Horizon|
|Closed|| Long (1Y)
Edelweiss downgrades Tata Motors to hold
Edelweiss has downgraded Tata Motors to 'hold' from 'buy' for target price of Rs 501. It says Tata Motors' Q3FY17 consolidated EBITDA plummeted 42 per cent year on year to Rs 520 crore and came 40 per cent below their estimates. Edelweiss has lowered its FY17-18 estimated EBIDTA by 35-25 per cent to Rs 2,950-3,850 crore to reflect weaker margins. It has downgraded Tata Motors to 'hold' from 'buy' for target of Rs 501.