JNK India share price jumps over 14% after listing at 50% premium. Buy, sell or hold?

livemint.com:

JNK India's stock had an impressive debut on the market today. Opening at ₹621 per share on the NSE, it marked a significant 49.63% increase from its issue price of ₹415. Similarly, on the BSE, the stock began trading at ₹620 per share.

The bullish trend continued post-listing, with the stock reaching a peak of ₹709.80 per share, a notable 14.30% surge from its listing price. Retail investors who were allotted shares witnessed their investments grow by nearly 50% in a day. Market experts recommend holding onto the stock long-term, citing the company's robust fundamentals.

Also Read: JNK India share price opens with 50% premium at ₹621 on NSE Shivani Nyati, Head of Wealth, Swastika Investmart, said, "JNK India Limited, the manufacturer of process heating equipment, defied even optimistic pre-listing forecasts with a spectacular debut on the stock exchanges. The company's share price soared around 50% above its issue price of Rs. 415, listed at Rs.

621 per share. This impressive listing significantly surpassed the anticipated 30% premium predicted by the grey market, underscoring the overwhelming investor confidence in JNK India's future potential." "While the initial surge might be followed by some volatility, the strong fundamentals and positive outlook suggest long-term potential. Existing investors may hold their shares with a stop loss of ₹560 and monitor the performance closely," Shivani added.