Indian cricketer Virat Kohli’s investment company GO Digit’s stock is going to fall drastically. This is what a brokerage firm has said. Go Digit’s IPO came this year. After the IPO was listed, its shares have made a profit of 46 percent in just 3 months. Just a day before, this stock was trading at a record high. However, on Tuesday, this stock closed with a slight increase at Rs 393.50.
Everything is going positive about the company. Growth estimates are also good and the company’s business is also better, but still brokerage Emkay has advised to sell it soon. Shares of Go Digit were listed in the domestic market on 23 May 2024. According to the draft of the IPO filed with SEBI, Virat Kohli has 2,66,667 shares and Anushka Sharma has 66,667 shares. Both had bought the shares of this company at a price of Rs 75.
How much will Go Digit’s share fall and why?
Profitable growth remains at the core of Go Digit’s strategy and it has adopted a flexible and opportunity-based approach to growth. For this, it is also taking the help of technology and data analytics, so that it can promote or slow down a product or channel. Brokerage firm Emkay said in its report dated September 1, 2024 that there is no question about the strategy and management ability of the company, but it cannot be said that the company will get both growth and profitability. The brokerage has said that due to some shortcomings, its share target price can go up to Rs 230, which is 41.47 percent below the current level.
How was the movement of the shares
Go Digit shares have given investors tremendous returns in a short span of time. On June 4, 2024, this stock was at the level of Rs 277.80. In 3 months from its low level, it jumped more than 43 percent to Rs 398.05 on September 2, 2024, which is a record high for its shares. However, it is down about 2 percent from its high level.
(Note- Before buying or selling any stock, please consult your market expert.)
Source (PTI) (NDTV) (HINDUSTANTIMES)