Ratnaveer shares list over 25% premium. Buy, sell or hold?

livemint.com:

IPO listing today: Shares of Ratnaveer Precision Engineering Limited listed on BSE and NSE in special pre-open session today delivering over 25 per cent premium to the lucky allottees against its price band of ₹93 to ₹98 per equity share. Ratnaveer shares opened on BSE at ₹128 apiece whereas on NSE it listed on 123.20 per equity share.

However, the stock witnessed some buying interest post-listing and went on to hit intraday high of ₹134 on BSE and ₹129.35 on NSE. According to stock market experts, Ratnaveer IPO received strong response from investors as small size and reasonable pricing helped the public offer to attract investors.

However, they suggested investors to exit as there can be some more downside in the stock post-listing. Speaking on Ratnaveer share price opening, Arun Kejriwal, Founder at Kejriwal Research and Investment Services said, "Ratnaveer shares have opened at a decent premium of over 25 per cent but the listing is much lower in comparison to the unlisted market.

Apart from this, there is series of new IPOs ready to hit primary market, which is an indication about market being in over bought condition and primary market is in a hurry to book maximum profit from the current secondary market sentiments. So, my advice for lucky allottees is to book profit and wait.

If the stock goes down below ₹100 or below the upper price band of the public issue, then it is better to look at other stock as there are various other stocks available at attractive valuations." Suggesting fresh investors to wait for some time, Prashanth Tapse, Research Analyst, Senior Vice President of Research at Mehta Equities said, "Ratnaveer Precision share debut was healthy in line with street expectations. The premium listing is