Blue Jet share price gains post listing: Should you buy, sell or hold the stock now?
Blue Jet Healthcare share price was listed at ₹380 on the NSE (National Stock Exchange) almost 10% higher than the issue price of ₹346 on Wednesday. On the BSE (Bombay Stock Exchange) Blue Jet Healthcare share price was listed at Rs359.90 per share and touched highs of ₹395.85, during intraday trades. Investor confidence had remained strong on the company as was visible from IPO subscription level as was subscribed 7.95 times, which as per analysts is a good subscription level.
Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd post listing of Blue Jet Healthcare said that “Despite a weak market mood, Blue Jet Healthcare listing was better than street expectations. We believe the listing premium is justified considering its niche product portfolio. While we continue to advise conservative allotted investors to look to book decent profits on listing day while those who wish to buy more should wait and watch the market to settle considering decent long term industry rationales." Shivani Nyati, Head of Wealth, Swastika Investmart Ltd post listing of Blue Jet Healthcare said that “Overall, the listing of Blue Jet Healthcare was a success.
The company's strong fundamentals and good subscription levels were positive factors for this. Investors may hold it by keeping a stop loss at Rs. 340" As per Nyati, Blue Jet Healthcare is a manufacturer of contrast media intermediates and high-intensity sweeteners.
The company has a strong competitive advantage due to its high entry barriers and long-term relationships with multinational customers. Blue Jet Healthcare’s financial performance is also strong, with consistent revenue and profit growth in recent years, said Nyati. Blue Jet Healthcare is a specialty pharmaceutical
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