ASK Automotive share price jumps after positive debut. Buy, sell or hold?

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Stock market today: Shares of ASK Automotive Limited listed on BSE and NSE in special pre-open session at around 7.5 per cent premium during Wednesday deals. However, the auto stock didn't end after positive listing. ASK Automotive share price went up further and went on to hit intraday high of ₹311.75 per share on BSE and ₹312 apiece on NSE respectively.

According to stock market experts, ASK Automotive IPO listing is in line with market expectations. They said that despite high valuations and 100 per cent OFS, auto stock managed to list higher from its upper price band of ₹282 per share levels. Market experts went on to add that company's fundamentals provide big opportunity for long term investors and hence one can hold the stock if one's perspecive of long term.

Yes Bank shares extend Monday rally. Rises 12% in two days Speaking on ASK Automotive IPO listing, Prashanth Tapse, Senior VP — Research at Mehta Equities said, "ASK Automotive share listing was inline with street expectations. We believe post listing there would be decent demand for the shares as it had received overwhelming response from all kinds of investors especially from QIB’s 142 times.

We also believe ASK can act as a proxy play for the growth in Indian automobile sector." Baba Food Processing shares make flat debut; stock lists at ₹76 apiece On what next after positive debut, Avinash Gorakshkar, Head of Research at Profitmart SEcurities said, "I would call ASK Automotive IPO listing a decent listing as it has managed to list positively despite high valuations and 100 per cent OFS. This is because company's fundamentals are strong. As auto segment is expected to peak further, I would suggest long term investors to hold the stock and keep on