Tata Technologies leads the IPO bumper listing, Gandhar Oil, FedFina shares follow the suit
Tata Motors. Tata Technologies shares got listed at ₹1,200 apiece on NSE, a premium of 140% to the issue price of ₹500 per share. This was the best listing in the Indian stock market since November 2021.
Read here: Tata Technologies share price makes blockbuster debut, stock lists at 140% premium at ₹1,200 on NSE After this impressive stock market debut, Tata Technologies shares extended gains and made a high of ₹1,400 apiece on both the exchanges, thus, more than doubling investors’ wealth. The ₹3,042.51 crore worth Tata Technologies IPO was the first IPO listing from the Tata Group in nearly two decades. The IPO received strong response from investors and was subscribed by a staggering 69.43 times.
Analysts are bullish on the stock given its strong fundamentals, growth prospects and Tata Group. Also Read: Tata Technologies share price gains after giving multibagger return to allottees. Buy, sell or hold? “This robust investor interest reflects the company's strong fundamentals and promising growth prospects and of course the legacy of the Tata group.
The listing of Tata Technologies is a positive development for the company and the engineering services sector. Investors who participated in the IPO should consider holding on to their shares for the long term, as the company is well-positioned for sustained growth," said Shivani Nyati, Head of Wealth, Swastika Investmart Ltd. Rajnath Yadav, Research Analyst at Choice Broking also believes that Tata Technologies is a long term play.
“At CMP of ₹1,337, the stock is trading at a P/E multiple of 75.6x, which seems to be in-line to the peers. Thus short term investors are advised to book profit, while long term investors can remain invested," Yadav said. He advises long term
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