Update:
Shares of Amber Enterprises India Limited (NSE: AMBER) fell 4.71%, trading at ₹6,172.25 as of 11:59 AM on November 28. The stock opened at ₹6,410.05, touched an intraday high of ₹6,460.30, and a low of ₹6,141.00, with a trading volume of 3,89,865 shares.
Amber Enterprises shares fall 1.73% as Goldman Sachs downgrades to ‘Neutral’
At 9:26AM, Shares of Amber Enterprises India Ltd. (NSE: AMBER) dropped 1.73% to ₹6,365.55 in early trading on November 28, after Goldman Sachs downgraded the stock from ‘Buy’ to ‘Neutral’ while raising the target price to ₹6,300 from ₹4,550.
The brokerage’s downgrade follows a significant run-up in Amber’s stock price. While Goldman Sachs acknowledged the company’s key position in the air conditioner and electronics sectors, it noted that market sentiment has already factored in most of the expected growth. Amber’s recent entry into the electronics space and the reduction in seasonality due to new growth drivers were highlighted as positives, but the focus is now expected to shift toward execution.
The downgrade reflects concerns over limited upside potential after the stock’s recent re-rating, even as the company remains a beneficiary of India’s growing air conditioner market.
Disclaimer: This news report is based on brokerage commentary and market data and is for informational purposes only. Investors are advised to consult their financial advisors before making any investment decisions.
