Should I trust ICICI Securities' 77% downside call on Mazagon Dock?

ICICI Securities' 77% downside prediction has been consistently proven wrong as Mazagon Dock Shipbuilders shares have continued their upward trend despite four reports forecasting 60%-77% declines. The stock's current price of ₹4,400 remains above the target price of ₹900 set by the brokerage.

Livemint: Deepak's comments on Mazgaon Dock

Deepak Shenoy, CEO of Capitalmind, highlighted the brokerage's track record, pointing out that ICICI Securities had released four reports over the past year, each predicting a 60%-77% downside for Mazagon Dock Shipbuilders shares.

20 Aug 2024CM Team1 min read

Quick Facts

Should I trust ICICI Securities' 77% downside call on Mazagon Dock?: ICICI Securities' 77% downside prediction has been consistently proven wrong as Mazagon Dock Shipbuilders shares have continued their upward trend despite four reports forecasting 60%-77% declines. The stock's current price of ₹4,400 remains above the target price of ₹900 set by the brokerage.

Livemint: The recent report by ICICI Securities predicting a significant 77% downside in Mazagon Dock Shipbuilders share price has sparked some flack on social media. On August 16, the brokerage house released a research report, giving a ‘Sell’ call on the multibagger PSU defence stock, citing stretched valuations. The report set a target price of ₹900 per share, a stark downside to the current market price of around ₹4,400.

Deepak Shenoy, CEO of Capitalmind, highlighted the brokerage’s track record in a post on X (formerly Twitter), pointing out that ICICI Securities had released four reports over the past year, each predicting a 60%-77% downside for Mazagon Dock Shipbuilders shares. However, these predictions have been consistently proven wrong as the stock has continued its upward trend…

[(…read more at Livemint)](The%20recent report by ICICI Securities predicting a significant 77% downside in Mazagon Dock Shipbuilders share price has sparked some flack on social media. On August 16, the brokerage house released a research report, giving a ‘Sell’ call on the multibagger PSU defence stock, citing stretched valuations. The report set a target price of ₹900 per share, a stark downside to the current market price of around ₹4,400. Deepak Shenoy, CEO of Capitalmind, highlighted the brokerage’s track record in a post on X (formerly Twitter), pointing out that ICICI Securities had released four reports over the past year, each predicting a 60%-77% downside for Mazagon Dock Shipbuilders shares. However, these predictions have been consistently proven wrong as the stock has continued its upward trend.)