This brokerage believes multibagger RITES will correct by more than 30%
Mon, Feb 5, 2024 4:17 PM

This brokerage believes multibagger RITES will correct by more than 30%

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Transport consultancy RITES, which has outperformed the Nifty, may fall by over 30% according to analysts. The recent note is based on Q3FY24 results showing a flat net sales growth and decrease in net profit. Their sell call and target price of Rs 515 is due to margin compression and stock's high performance compared to Nifty. Railway stocks also fell.

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