Cyient DLM share price opens at strong premium. Buy, sell or hold?
Indian stock market bourses. Cyient DLM IPO listed on BSE at ₹401 apiece and went on to hit intraday high of ₹424.40 apiece whereas on NSE, Cyient DLM shares opened at ₹403 on NSE and went on to hit intraday high of ₹425 apiece within few minutes of share listing. After this strong listing, Cyient DLM IPO delivered around 51 per cent listing gain to its lucky allottees against the Cyient DLM IPO prie band of ₹250 to ₹265 per equity share.
According to stock market experts, Cyient DLM share price may extend its gains and go up to ₹480 apiece levels in near term. So, those who have been allocated Cyient DLM shares during allotment process, they are advised to hold the scrip for the above mentioned target whereas for those who missed to get company shares during share allotment process, they are advised to wait and buy around ₹380 to ₹390 range. Speaking on Cyient DLM share price outlook, Vaibhav Kaushik, Research Analyst at GCL Broking said, "Cyient DLM share price listing above 50 per cent premium is on the expected lines of the markets and we are expecting this stock to further move upside.
It may go up to ₹470 to ₹480 per share levels. So, those who have been allocated Cyient DLM shares during allotment, are advised to hold the scrip for ₹470 to ₹480 target for near term. However,, they must maintain a trailing stop loss at ₹377 apiece levels." Advising Cyient DLM shareholders to further hold the scrip, Anubhuti Mishra, Equity Research Analyst at Swastika Investmart said, "Cyient DLM is a fundamentally strong company.
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