
SJVN stock plunges 2% after Goldman Sachs anticipates 40% decline in share price
Live MintThe share price of SJVN dropped significantly to an intraday low of ₹136.51 on the National Stock Exchange on August 21, declining by 1.46 percent from its previous close after Goldman Sachs reaffirmed its ‘Sell’ recommendation on the state-owned hydropower company. The analysts at the global brokerage set a new target price of ₹85 per share, up from their previous recommendation of ₹75 per share. Goldman Sachs is one of the two analysts covering SJVN with a "sell" rating on the stock. The global brokerage noted that SJVN could benefit from several positive factors moving forward, including new opportunities, better-than-expected successes and execution in renewable projects, an encouraging acceleration in the renewable energy sector, and a significant decrease in debt costs.
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