Eicher Motors Shares Plummet 6.8% After Q3 Results
Eicher Motors' Q3 earnings report sparks target price cut by Goldman Sachs, shares decline.
BUSINESS: Eicher Motors' shares witnessed a significant decline of 6.8% to an intraday low of Rs 4,966.15 on the Bombay Stock Exchange (BSE) on Tuesday. This downturn followed the company's announcement of its Q3 results, which apparently fell short of investor expectations.
Global brokerage firm Goldman Sachs subsequently cut the stock's target price to Rs 5,900, further contributing to the decline. The revised target price indicates a more cautious outlook on the company's future performance.
Eicher Motors' Q3 earnings report has sparked concerns among investors, leading to a sell-off in the stock. The company's financial performance and future prospects will be closely watched in the coming days to gauge the direction of the stock.
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