Pyramid Technoplast share price hits lower circuit after positive debut. Buy or sell?

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₹187 apiece levels whereas on BSE, it listed at ₹185 apiece levels. However, the stock failed to sustained on higher levels as profit booking triggered within few minutes of stock listing. As a results Pyramid Technoplast shares locked-in 5 per cent lower circuit within few minutes of listing on BSE and NSE.

According to stock market experts, Pyramid Technoplast shares were offered at a little higher than fair value of the stock. However, it managed to deliver listing gain to the allottees due to trend reversal on Dalal Street and exuberance in primary market. They said that only high risk traders should hold the stock with stop loss at ₹165 apiece levels.

However, they maintained that scrip is a quality stock and ₹150 apiece levels would be a good supply zone for positional long term investors. On why Pyramid Technoplast share price hit lower circuit immediately after listing on Indian bourses, Avinash Gorakshkar, Head of Research at Profitmart Securities said, "Pyramid Technoplast shares were offered at slightly higher price than the fair value of the stock. However, trend reversal on Dalal Street and bullish sentiment in the primary market helped it list at double digit premium.

But, after listing of stock, fundamentals are bound to come into play and current profit booking has to be seen from this perspective." Speaking on Pyramid Technoplast share listing, Pravesh Gour, Senior Technical Analyst at Swastika Investmart said, "Pyramid Technoplast share has debuted as a flat-to-positive listing at Rs. 188 (+13%) to its issue price because of equity market conditions. The issue had also received a good response from investors on both the institutional and retail sides." On fundamentals in regard to the newly listed