HMA Agro share extends gain after positive listing. Buy, sell or hold?

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BSE at ₹615 per share whereas it listed on NSE at ₹625 apiece, delivering around 7 per cent listing gain to the allottees on HMA Agro IPO listing. However, the frozen meat exporter company's stock ascended further after positive listing and went on to hit intraday high of ₹670.45 on BSE and ₹667 on NSE, doubling the listing gain to the tune of near 14.50 per cent against the upper price band of ₹585 per share.

According to stock market experts, those who have invested in the stock for short term, they are advised to book profit and exit whereas those who have a little long view, they are advised to maintain stop loss at ₹590 and hold the stock till June 2023 quarter results of the company is announced. They said that company is in frozen buffalo meat export business and they are market leaders in India.

So, they have limited competition and any positive in the Q1FY24 may spark fresh rally in the scrip and in that case it may go up to ₹750 apiece levels in next one to two months after the announcement of results. On what next after positive listing, Vaibhav Kaushik, Research Analyst at GCL Broking said, "Company has arbitration challenges and some challenges on the corporate governance as well.

But, it managed to give return on the listing date and my advice to investors is to book profit and exit on any rise. They can maintain a stop loss at ₹590 and exit once there is any bounce in the stock." Unveiling investment strategy after HMA Agro share listing, Avinash Gorakshkar, Head of Research at Profitmart Securities said, "Those who have short term view, they are advised to book profit and exit as stock is expected to remain sideways till its quarterly results are announced.