Zaggle share price opens at discount on BSE. Opportunity to buy?

livemint.com:

Stock market today: Shares of Zaggle Prepaid Ocean Services Limited listed on BSE and NSE in a special per-open session during Friday deals. Zaggle share price opned at ₹162 on BSE whereas it listed on NSE at ₹164 apiece levels. Thus, the fintech stock listed in discount on BSE while it had a par listing on NSE.

According to stock market experts, Zaggle Prepaid Ocean Services Limited is a profit making company but its margins are going down for the last three years. This means, the company has managed to raise its business volume but it has failed to improve its margins on this rise in business volume. So, one should wait for the Q2 results for the financial year 2023-24 keeping stop loss at ₹156 apiece levels, which is its lower price band.

Speaking on Zaggle IPO listing, Avinash Gorakshkar, Head of Research at Profitmart Securities said, “Zaggle Prepaid Ocean Services Limited is one of the rate fintech companies, which is in profit. So, Zaggle IPO listing is below expectations and my suggestion for the allottees to wait for the upcoming uarter results. This listing can be attributed to high valuations of the public issue and weak stock market sentiments.

So, some upside is expected once there is trend reversal on Dalal Street." On suggestion to those who missed to get Zaggle shares during allotment process, Arun Kejriwal, Founder at Kejriwal Research and Investment Services said, “Zaggle Prepaid Ocean Services Limited has manged to report rise in its volumes but its margins have gone down in last three years, which raises concern over the financials of the company. But, its a fintech company and its issue was priced at high valuations. So, I would suggest allottees to hold the stock maintaining stop loss at ₹256