Zinka Logistics shares fall 7% after listing. What should investors do
Zinka Logistics Solutions fell nearly 7% to Rs 260.1 on the BSE following their muted debut on the exchanges on Tuesday. The stock debuted at Rs 279.05 on the BSE, reflecting a premium of just Rs 6 or 2.2% over the IPO price of Rs 273.
Meanwhile, from the issue price the stock has fallen 5%.
«Zinka Logistics Solutions made a positive debut on the stock market. This was a better-than-expected performance, considering the moderate subscription of 1.87 times and the lackluster pre-listing sentiment reflected in the zero GMP,» said Shivani Nyati, Head of Wealth at Swastika Investmart
«The company's strong network effects and position as a leading platform in the logistics industry have likely contributed to the positive listing. However, investors should remain cautious due to the company's past financial challenges, including losses and negative cash flow, and the ongoing legal challenges,» Nyati added.
«While the positive listing is encouraging, it's crucial for investors to conduct thorough due diligence and assess the company's long-term growth prospects,» Nyati further noted.
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