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Motilal Oswal Downgrades Updater Services To 'Neutral' Amid Guidance Cuts, Near-Term Headwinds
Motilal Oswal downgrades Updater to Neutral and revises target price, as weaker BSS trends, lower overall guidance, margin pressures from client issues, ramp-up costs limit near-term visibility.
07 Nov 2025, 12:47 PM IST 
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Given limited near-term triggers, Motilal Oswal downgrades Updater Services stock to Neutral.
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Motilal Oswal cuts its earnings estimates by 12%/8% for FY26E/FY27E to reflect the slower growth trajectory and margin pressures across both IFM and BSS segments. Updater's management’s guidance downgrade to 9–10% growth for FY26 (from 13–15% earlier), coupled with persistent weakness in the BSS portfolio, suggests a more gradual recovery ahead.
