Emcure Pharma shares jump over 4% post listing. Should you buy, sell or hold?
Emcure Pharmaceuticals jumped 4% to Rs 1,384 after a strong debut on the exchanges on Wednesday. The stock is listed at Rs 1325 on NSE and BSE over the IPO price of Rs 1008 apiece, a premium of Rs 317 or 31.4% as against the issue price.
The enthusiastic listing was kind of expected after it received an overwhelming response, as the issue was subscribed to a whopping nearly 68 times.
The qualified institutional investors (QIB) led the pack, subscribing 195.8 times their allocation. Non-institutional investors followed closely, buying 48.3 times their portion, while the employee component showed strong interest by subscribing 8.81 times the reserved portion.
Analysts advised investors to hold the position for healthy returns in the long term.
"Emcure Pharma's listing performance is positive, which aligns with pre-listing anticipation. The strong investor response and listing gain demonstrate confidence in the company's future potential. However, the identified risks within the pharmaceutical industry necessitate ongoing monitoring by investors. Investors may hold their positions by keeping a stop loss at 1200," said Shivani Nyati, Head of Wealth, Swastika Investmart.
Pune-based firm Emcure Pharmaceuticals is engaged in developing, manufacturing, and globally marketing a broad range of pharmaceutical products across several major therapeutic areas.
The research and development driven company with a differentiated product portfolio that includes orals, injectables and biotherapeutics with target markets across
