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Samraat Jadhav  |2321 Answers  |Ask -

Stock Market Expert - Answered on Aug 14, 2023

Samraat Jadhav is the founder of Prosperity Wealth Adviser.
He is a SEBI-registered investment and research analyst and has over 18 years of experience in managing high-end portfolios.
A management graduate from XLRI-Jamshedpur, Jadhav specialises in portfolio management, investment banking, financial planning, derivatives, equities and capital markets.... more
Neelakanttan Question by Neelakanttan on Aug 12, 2023Hindi
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Mr Samraat, why did Alkem fall so dramatically yesterday?

Ans: The company lowered its domestic business growth guidance for financial year 2024 to high single digits from low double digits earlier.
Global investment bank HSBC downgraded Alkem Labs to ‘Hold’ with a price target of Rs 3,945.
Bank of America (BoFA) also gave an ‘Underperform’ rating
Above are the reasons: Revenue Guidance and Downgrading by TOP investment firms.

Disclaimer: Investments in securities are subject to market RISKS. Read all the related documents carefully before investing. Please consult your appointed/paid financial adviser before taking any decision. The securities quoted are for illustration only and are not recommendatory. Registration granted by SEBI, membership of BASL and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

Nomura remains neutral on Alkem Labs
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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