Business Standard

HDFC tumbles after Goldman Sachs downgrade to 'sell'

Goldman Sachs alo reduced target price on stock citing growth concerns

SI Reporter  |  Mumbai 

Housing Development Finance Corp, country's biggest mortgage lender, declined nearly 2% in early trades this Friday after global brokerage firm cut its rating to 'sell' from 'neutral' citing concerns India's economy would recover at a "modest" pace and the prospect of rising competition.

Goldman also downgraded its target price on to Rs 740 from Rs 790.

At 9:40AM, HDFC shares fell  1.7% to Rs 801.25 today.

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HDFC tumbles after Goldman Sachs downgrade to 'sell'

Goldman Sachs alo reduced target price on stock citing growth concerns

HDFC tumbles after Goldman Sachs downgrade to 'sell' Housing Development Finance Corp, country's biggest mortgage lender, declined nearly 2% in early trades this Friday after global brokerage firm cut its rating to 'sell' from 'neutral' citing concerns India's economy would recover at a "modest" pace and the prospect of rising competition.

Goldman also downgraded its target price on to Rs 740 from Rs 790.

At 9:40AM, HDFC shares fell  1.7% to Rs 801.25 today.
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