Urban Company falls 2.8% after Kotak downgrades to 'sell' on competition
Shares of Indian home services provider Urban Company fell 2.8% to 168.61 rupees after Kotak Institutional Equities downgraded the stock to "sell" from "add" citing intense competition and high valuations.
61 rupees after Kotak Institutional Equities downgraded the stock to "sell" from "add" and raised its fair value to 155 rupees from 150 rupees. 8 billion rupees, citing intense competition in Instahelp. It said spending on expansion and customer acquisition would pressure profit margins. The brokerage raised its FY26-29 growth estimate to 23%, citing stronger-than-expected growth in the India business and steady growth in the international market.
50 rupees. 03% year to date. 7350 Indian rupees)