While Kotak Securities Ltd downgrades ABG Shipyard Ltd, the share is already up and is now trading at Rs.291, much ahead of their target of Rs.278.
It is because the business outlook has changed with NDA led by Narendra Modi, coming to power at the centre. It is given condition that we invest in a company based on its future outlook not only of the sector but also of overall situation. When any of these conditions improves, the market starts to perform. In such a scenario, we can only expect the shares of ABG Shipyard Ltd (Rs.291) and Western India Shipyard Ltd (Rs.3.05) to move up or do well.