Tata Technologies share price: Profit booking triggers. Experts list out 5 reasons to avoid buying rush
Tata Technologies share price: After strong debut on Dalal Street, shares of Tata Technologies Ltd witnessed some profit booking during early morning session on Friday. Tata Technologies share price today opened upside and went on to touch intraday high of ₹1,348 apiece levels on NSE, delivering to the tune of 170 per cent return to those Tata Technologies IPO allottees who remained invested with the stock after dream debut at Indian stock market.
However, experts believe that an investor who missed to get Tata Technologies shares via share allotment process. Stock marekt experts believe that valuation gap of Tata Technologies shares against its peers has narrowed down after strong listing.
Apart from this, Tata Technologies IPO was completely OFS (Offer for sale), hence net proceed of the public issue won't have any impact on company's financials. Also Read: Nifty 50 hits all-time high led by banks, metals, auto stocks Here we list out top 5 reasons for not buying Tata Technologies shares aming post-listing euphoria: 1] Tata Technologies IPO net proceeds: "Tata Technologies IPO was 100 per cent OFS in nature.
So, net proceeds of the public isue even after strong response by primary market investors and dream debut on Dalal Street, balance sheet of the newly listed Tata group company would remain unaffected due to IPO's success. So, one should not rush for Tata Technologies share buying in current profit booking trigger," said Avinash Gorakshkar, Head of Research at Profitmart Securities.
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