Nuvama cuts target for Titagarh Rail but maintains buy rating
pre-market1 source ↓written by the desknot a recommendation
- to ₹769 despite
- 2.2%
- to ₹819 cr
- 9% decline in revenue
- ₹819 cr
- 10% drop in PAT
Titagarh Rail Systems' share price rose 2.2% to ₹769 despite a target price cut from Nuvama. The brokerage revised its target to ₹1,061 from ₹1,088, citing a 9% decline in revenue to ₹819 cr and 10% drop in PAT. While near-term earnings face challenges due to wheelset shortages, Nuvama remains optimistic about long-term growth.
Not investment advice. For informational purposes only.