Tata Technologies IPO listed at a whopping 140% premium on Indian bourses during the special pre-open session on Thursday. The stock continued its upward trajectory, reaching 1400 apiece levels on NSE, delivering an impressive 180% listing premium to those allottees who held on to their shares despite the stellar listing gain.
Market experts believe that the demand for Tata Technologies shares remains strong, with around 3.3 crore trades executed within an hour of listing on NSE. They recommend that allottees who have already secured significant gains consider booking profits and exiting the stock, while cautious investors can maintain their positions with a trailing stop loss placed at 1299 apiece, which should trigger a sell order if the price falls to 1290. For long-term investors, Tata Technologies is an ideal addition to their portfolios.
Expert Recommendations for Tata Technologies IPO Allottees
Prashanth Tapse, Senior VP – Research at Mehta Equities, commented on the Tata Technologies IPO listing, stating, “As expected, a bumper listing was witnessed, exceeding our expectations and honoring the legacy of the TATA brand. Following remarkable subscription demand, the Tata Technologies IPO garnered significant attention in the stock market among the five IPOs. Considering the overwhelming demand from investors and the investor-friendly pricing, reflecting the Tata Group’s commitment to rewarding shareholders.”
The further advised allottees to book 50% profits at prices above 1400 and retain the remaining holding for long-term gains. For those who missed out on the allotment, he recommended accumulating Tata Technologies shares on every dip post-listing for long-term investment.
Arun Kejriwal, Founder at Kejriwal Research and Investment Services, provided additional guidance to allottees. He stated, “Those who applied for listing gain only should book profits and exit. However, for those who want to capitalize on the post-listing euphoria surrounding Tata Technologies shares, a trailing stop loss should be maintained at 1299 apiece, which should trigger a sell order if the price falls to 1290 per share. For long-term investors, Tata Technologies is an ideal portfolio stock, and accumulation should be considered on every significant dip of 5-7%.”
For those who missed out on the allotment process, Kejriwal advised against fresh entry into the stock at current levels. Instead, they should wait for the stock to settle down once the post-listing euphoria subsides.
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