Akshata Sharma
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A day after Goldman Sachs initiated coverage on the stock with a 'buy' rating, shares of geotech startup MapmyIndia reached an all-time high of INR 2,745.05 during the intraday trading on the BSE on Friday (June 21)
The company's shares opened today at INR 2,547, marking a more than 6% increase from the previous close, before hitting the new peak.
Goldman Sachs initiated its coverage of MapmyIndia with a price target of INR 2,800. Following this, the stock jumped 20% and touched its upper circuit at INR 2,401.9 on the BSE on Thursday.
In its report, Goldman Sachs highlighted MapmyIndia's advantageous early market position in high-growth sectors such as automotive navigation, mapping devices, connected vehicles, telematics, and government digitisation.
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