Stories
Engineers India shares crash over 8 percent amid heavy trading volume
C
CNBC Awaaz•08-10-2026, 11:47
Engineers India shares crash over 8 percent amid heavy trading volume
- •Engineers India shares experienced a sharp decline of over 8 percent, dropping to Rs 283 during trading.
- •Trading volume surged significantly, crossing 8.7 million shares in the morning, indicating heavy selling pressure.
- •Despite the sudden drop, the stock remains up by about 2 percent over the past month and 40 percent over the year.
- •No single definite reason or negative brokerage report has been identified as the immediate cause for the fall.
- •An older ICICI Direct report maintains a buy rating with a target of Rs 310, while analyst estimates average around Rs 298.50.
Key Questions Answered
There was no single definite reason, target cut, or negative brokerage report for the sudden decline; rather, the stock market traded lower amid RBI interest rate hikes and expensive crude.
Trading crossed 8.7 million shares in the morning, which was about 34 percent higher than the daily average, indicating heightened activity and selling pressure.
An ICICI Direct report lists a target of Rs 310 with a buy rating, while overall analyst estimates put the average target at Rs 298.50.
