India's Go Digit hits record low as weak earnings spur TP cuts
BUZZ-India's Go Digit hits record low as weak earnings spur TP cuts ** Insurance company Go Digit General Insurance's GODG.NS shares fall 7.8% to 258.85 rupees, hitting an all-time low
** Q1 profit after tax falls 37.5% YoY; Net premium earned rises 7.6%
** Brokerage Emkay Global lowers TP on stock to 270 rupees from 290 rupees, says industry dynamics lead to weaker growth and profitability
** Emkay upgrades GODG to "reduce" from "sell", citing limited downside, but says competitive pressures and the company's high-cost operating model keep it from turning positive on the stock
** Jefferies cuts its target price to 380 rupees from 395 rupees after lowering FY27-FY29 EPS estimates by 5%-7%, mainly to reflect slower growth
** Seven of 10 brokerages rate the stock "buy" or higher; their median PT is 350 rupees - LSEG data
** YTD, stock down 23.9%
(Reporting by Abhinav Parmar in Bengaluru)
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Brief: India Competition Regulator Approves Amalgamation Of Go Digit Infoworks Services With Go Digit General Insurance
India's Go Digit hits record low as weak earnings spur TP cuts