Netweb Technologies shares extend gains after listing at 89% premium. Buy, sell or wait?

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₹942.50 apiece levels whereas it opened on NSE at ₹947 per share against its issue price of ₹475 to ₹500 per equity share. However, Netweb Technologies share price further ascended and went on to hit intraday high of ₹953 per share levels while on NSE it went on to hit intraday high of ₹952 per share.

According to stock market experts, Netweb Technologies shares may hit four-digits in near term once it sustains above ₹935 apiece levels on closing basis. They said that those who have Netweb Technologies shares in their stock portfolio, they are advised to hold the stock with stop loss at ₹850.

However, they advised lucky allottees to book fifty per cent profit and fish out the principal and hold the rest for ₹1,000 target in near term. For those who missed to get Netweb Technologies shares during allotment process, they advised them to buy the stock only when it sustains above ₹935.

On reasons for such a strong listing of Netweb Technologies shares, Anubhuti Mishra, Equity Research Analyst at Swastika Investmart said, "The strong listing is in line with expectations, as the company has a strong track record of growth and its financial performance has been improving in recent years. Netweb Technologies is well-positioned to benefit from the growth of the high-end computing market in India, as it has a strong focus on the niche business segment of high-end computing solutions." Speaking on Netweb Technologies IPO listing, Vaibhav Kaushik, Research Analyst at GCL Broking said, "Netweb Technologies IPO has delivered almost90 per cent return to the lucky allottees and my advice to them is to book 50 per cent profit and fish out their principal.