Half of top 100 cos see cut in target price over concerns of tepid earnings

Adani Green, Nykaa, APSEZ among firms with maximum cut in TPs in Jan-March 2023, shows Bloomberg data. Canara Bank, JSW Steel and Bank of Baroda have seen highest increase in TPs

NSE, national stock exchange, nifty50

Photo: Bloomberg

Sundar Sethuraman Mumbai

Listen to This Article

Half the stocks in the Nifty 100 index have seen a reduction in their target price by analysts this year due to fears of lacklustre earnings growth and uncertain economic environment.

Adani Green Energy, FSN E-Commerce (Nykaa), Adani Ports & SEZ and Indus Towers are among the companies that have seen the maximum cut in TPs during the first three months of calendar 2023, shows Bloomberg data. On the other hand, Canara Bank, JSW Steel and Bank of Baroda have seen the highest increase in TPs.

During the second half of 2022, around 40 per cent of the top 100 stocks had seen a reduction in TPs. Experts said analysts had pencilled in aggressive growth targets and valuations amid buoyancy

First Published: Apr 05 2023 | 5:23 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com