Vishnu Prakash share price dips after strong listing. Buy, sell or hold?
Stock market today: Vishnu Prakash shares listed on Indian stock market exchanges at a robust premium during special pre-open session on Tuesday. Vishnu Prakash share price opened on BSE at ₹163.30 apiece levels whereas it opened on NSE at ₹165 per share levels.
However, after strong listing on BSE and NSE, profit booking soon triggered in the newly listed stock and it made intraday low of ₹146.55 on NSE. Vishnu Prakash shares made intraday low of ₹145.05 per equity share on BSE.
According to stock market experts, those who have applied for the stock for short term, they are advised to book profit and exit whereas those who have medium to long term view can hold the stock maintaining stop loss below ₹140. But, market experts advised that one should book partial profit as they are getting around 55 per cent return on their money.
They said that one should book 40 per cent profit and keep the rest for medium to long term gains. Speaking on Vishnu Prakash share listing, Anubhuti Mishra, Equity Research Analyst at Swastika Investmart said, "Vishnu Prakash R Punglia Limited (VPRPL) made its debut on the stock markets today, listing on the exchange at a gain of around 66 per cent." On why Vishnu Prakash share price opened at such a decent listing premium, Swastika Investmart expert said, "The company's listing was in line with expectations, as it is a well-established company with a strong track record in the water supply sector.
The company is also benefiting from various government initiatives, which are likely to boost its growth in the coming years. The IPO was well-received by investors, with the issue being subscribed to 87.82 times." On what next after strong debut of Vishnu Prakash shares on exchanges, Avinash
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