India's Amber Enterprises falls on GS rating cut

Amber Enterprises India

28/11/2024 10:05

** Shares of Amber Enterprises India  AMBE.NS  fall 6.5% to
6,054 rupees
    ** Goldman Sachs cuts AC maker to 'neutral' from 'buy' on
limited scope of positive surprises after recent outperformance
    ** AMBE up ~93% YTD vs 22% gain in broader Nifty Smallcap
100 index  .NIFSMCP100 
    ** GS, however, raises TP to 6,300 rupees from 4,550 rupees
    ** That above 4% above current price but below analysts'
median PT of 6,675 rupees, per LSEG data.
    ** Analysts avg rating is the equivalent of "buy" - LSEG
data

 (Reporting by Vijay Malkar and Hritam Mukherjee in Bengaluru)
 ((VijayDattaram.Malkar@thomsonreuters.com;))