Tenda shares plunge as banks cut 3Q estimates on Caixa tightening

Banks have revised down their third-quarter estimates for Brazilian homebuilder Tenda (TEND3) following stricter lending measures by Caixa Econômica Federal, which are expected to dampen sales. The stock fell sharply as investors priced in weaker performance, with site visits to the Città Vila Prudente project reinforcing concerns. The development signals tighter credit conditions for affordable housing in Brazil, potentially pressuring the sector.