Stock market experts had already predicted a bumper listing beyond expectations given the legacy of the Tata brand. An example of this is the impressive subscription demand. It is one of the best performing IPOs in recent times. Tata’s tradition and credibility of benefiting shareholders is also reflected in the new IPO.
Mehta Equities points out that given the growth potential, there will be huge demand as the business moves forward. Investors can book 50 percent profit now and keep the balance for long term.
Can you invest now?
Whereas those who applied only for listing gain can book profit and exit. But the best return will have to wait longer. Stop loss will be Rs.1299. It can go up to Rs 1290 per share. Likewise, Kejriwal Research and Investment Services points out that fresh investment in the stock is not advisable in the current scenario and wait for the stock to stabilize once the post-listing trend ends.
(This article is not a recommendation to invest in any stock.)