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News Topical, Digital Desk : The stock market is experiencing continued pressure. Nifty closed flat today, but during trading, it declined from higher levels. Like the market, many other stocks are also under constant pressure, and in light of this pressure, brokerage houses are also changing their strategies regarding these stocks. Experts remain negative on some of these stocks, and today they have seen a decline. These stocks include Steel Authority and Ola Electric, which has been downgraded by brokerage firm Nuvama. Experts are advising to stay away from Ola Electric and to exit the investment at a higher level. Steel Authority fell more than 2% today. Ola Electric fell 5% today, reaching a new low of the year.
What is the stock advice?
Nuvama has downgraded SAIL's rating from "hold" to "reduce" and reduced the target price by 25% from ₹141 to ₹106. Based on Wednesday's closing price, the stock is expected to fall further by 18%. Nuvama has also cut SAIL's EBITDA estimates, factoring in lower steel prices. The brokerage has reduced its EBITDA estimates for FY2026, 2027, and 2028 by 17%, 13%, and 13%, respectively. The brokerage estimates SAIL's EBITDA in the December quarter compared to the previous quarter, while EBITDA per tonne could be around ₹1,400 lower than the June quarter. Analysts remain negative on Ola Electric and are advising against any new purchases. According to them, the stock currently shows no positive signs, so investors should look to exit the stock if it shows any gains.
How did the stock perform? Steel Authority shares fell 2.6% on Thursday, closing at 127. A year ago, the stock was at 121. This means a one-year return of less than 5%. The stock's year-long low was 99.2, recorded on February 12th. On November 13th of this year, the stock reached 146. Meanwhile, Ola Electric reached a new record low today, falling 5% to close at 31.28.
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