ideaForge Technology shares fell 9.5% over two days after JM Financial downgraded the stock to Add from Buy, citing valuation concerns following a sharp run-up despite strong long-term prospects. The brokerage expects order inflows to remain weak in FY27 before recovering in FY28 and FY29, while execution momentum and operating leverage could support significant revenue and margin growth.
Read more at the source
Disclaimer: The content of this post is sourced from external sites and is for informational purposes only. All rights and credits belong to the original authors and publishers.