Rishabh Instruments shares extend gain after par listing. Buy, hold or exit?

livemint.com:

Stock market today: Rishabh Instruments share price opened on Dalal Street in special pre-open session during Monday deals. Rishabh Instruments shares listed on BSE at ₹460 apiece levels and went on to hit intraday high of ₹469.65 per share levels on BSE. Similarly, Rishabh Instruments share price today opened on NSE at ₹460.05 per share levels and went on to hit intraday high of ₹470 apiece levels within few minutes of stock listing on Dalal Street.

According to market experts, Indian stock market is trading near record high levels and profit booking may trigger any time. In such condition, primary market is trying to cash-in as much as it can. Hence, one should not hold the stock for long after positive listing.

So, the current market is not conducive for medium to long term investment. One should apply for the IPO for listing gain only and exit immediately with whatever they are getting after listing of stock. Speaking on Rishabh Instruments share listing, Prashanth Tapse, Senior Vice President — Research at Mehta Equities said, "Margins of the company is under pressure and its revenue is also under pressure for the last three years.

This positive listing has happned due to bull trend in secondary market. So, profit booking may trigger any time on single trigger." Advising Rishabh Instruments shareholders to book profit, Arun Kejriwal, Founder at Kejriwal Research and Investment Services said, "In current scenario, secondary market is in overbought condition and profiit booking may trigger any time. Therefore, companies are looking in a hurry to launch its IPOs as they don't want to miss the chances of higher listing due to positive sentiments on Dalal Street.