Innova Captab share price hits 20% upper circuit after listing at marginal premium

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₹4.10 per share. However, the stock witnessed strong buying interest post listing and went on to touch an intraday high of ₹542.50 apiece on NSE.

While scaling to this intraday high, Innova Captab share price was locked in the 20 percent upper circuit within an hour of share listing. The newly listed stock touched the 20 percent upper circuit on the BSE as well.

According to stock market experts, investors have extended their faith in Innova Captab shares after giving strong response to the public issue. They said that positive market sentiment is also fueling their strong conviction towards Innova Captab shares.

However, they said one should book profit and exit as there can be sharp downside movement once there is trend reversal on Dalal Street. Also Read: Porinju Veliyath praises RBI, Shaktikanta Das on X as asset quality of banks improves Advising Innova Captab share allottees to book profit and exit, Avinash Gorakshkar, Head of Research at Profitmart Securities, said, "The company faces quality competition from its peers and the public issue it offered was priced at slightly higher valuations.

Hence, my suggestion to investors is to book profit and exit as there can be sharp downside movement once profit booking triggers in Indian stock market." Also Read: Bank Nifty Monthly, Quarterly Contract expiry days changed: all you need to know Prathamesh Masdekar, Research Analyst at StoxBox, said, "The company also has a record of sustained consolidated revenue from operations, growing at a CAGR of 50.2% during FY21-23. The company's focus on branded generic products for the domestic and international markets, strong brand presence, consistent financial performance, R&D focus on building an increasingly complex product