Stock market today: Vibhor Steel Tubes shares hit upper circuit after listing at 181% premium. Buy or sell?

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Stock market today: Vibhor Steel Tubes IPO listed on BSE and NSE delivering over 180 percent premium. Shares of Vibhor Steel Tubes Limited are listed on BSE at ₹421 apiece whereas on NSE, Vibhor Steel Tubes share price opened at ₹425 apiece. However, the dream debut of Vibhor Steel Tubes shares didn't end there.

The newly listed stock extended its listing gain further and went on to touch an intraday high of ₹446.25 on NSE and ₹442 on BSE, locking in a 5 percent upper circuit within a few minutes of share listing. According to stock market experts, Vibhor Steel Tubes shares have been listed at a whopping premium and have further extended their gains. They said that the stock is listed in the trade-to-trade category, which could be the possible reason for one-way movement.

However, they maintained that the stock may continue to move either way on a little rise in trade volume. Hence, one should book profit and exit in the current market scenario and wait for the stock to settle down. Also Read: Indian stock market: Why you should have SBI, HDFC Bank shares in your portfolio? Speaking on Vibhor Steel Tubes share price outlook, Dhruv Mudaraddi, Research Analyst at StoxBox said, "VSTL emerges as a pivotal player within the Indian steel industry, set against a burgeoning demand landscape and ambitious national targets for per capita steel consumption.