Popular Vehicles share price nosedives after listing at a discount. Buy, hold or exit?

livemint.com:

Stock market today: Popular Vehicles share price today listed on BSE and NSE in a special pre-open session. Popular Vehicles share price today opened on BSE at ₹292 apiece whereas, on NSE, Popular Vehicles share price is listed at ₹289.20 per share. After the discounted listing of JG Chemicals IPO, RK Swamy IPO, and Gopal Snacks IPO, Popular Vehicles and Services IPO is the fourth straight mainboard IPO that is listed at a discounted price.

However, the newly listed stock added more salt to the wounds of Popular Vehicles share allottees as the stock further went down after the discounted listing. On BSE, Popular Vehicles share price made an intraday low of ₹262.90 apiece while on the NSE, it made an intraday low of ₹262.40 per share. While making this intraday low, Popular Vehicles share price corrected to the tune of 6.50 percent against the listing price.

According to stock market experts, Popular Vehicles share price may see more downside if it fails to keep its current low sacrosanct support. So, allottees can hold the scrip maintaining stop loss a little above today's low or say at around ₹265 apiece and exit around ₹295 apiece level, if they have applied for listing gain only. However, a medium or long-term investor can take a call based on the investment goal, provided ₹265 stop loss doesn't trigger.