Tata Technologies’ IPO listed at a 140 percent premium on Indian bourses during a special pre-opening session on Thursday. However, after giving a multibagger return to the lucky allottees, the share price of Tata Technologies extended its gains further and touched ₹1400 per level on NSE, delivering a 180 percent listing to those allottees who remained invested in the stock despite stellar listing gains from the multibagger IPO.
According to stock market experts, Tata Technologies share price demand continues to be intact as it registered around Rs 3.3 crore trading volume within an hour of listing on NSE. They said that allottees who invested in Tata Technologies IPO can book profit and exit, while a cautious investor can expect further gains by keeping trailing loss at. ₹1299 per levels which should trigger up to ₹1290 levels. But, for those who have invested for the long term, this is an ideal stock to keep in their portfolio. For those who missed out on getting a Tata Technologies share through allotment process, they should wait for a few sessions and get in once the stock settles down after listing euphoria.
Suggestion to Tata Technologies IPO allottees
Speaking about Tata Technologies IPO listing, Prashanth Tapse, Senior VP — Research at Mehta Equities said, “As expected, bumper listing above our expectation respecting the legacy of TATA brand. After witnessing remarkable subscription demand. Tata Technologies IPO garnered significant attention in the stock market among the 5 IPOs. Considering overwhelming investors demand along with investor friendly prices indicating Tata Group heritage to reward shareholders.”
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On what later after a strong stock listing, the Mehta Equities expert said, “Considering the growth potential in outsourcing, the business model would be in high demand and considering all the factors, we recommend allotment investors to reserve 50 percent profits in addition. ₹1400 and keep the rest of the holding for long term considering healthy long term returns after listing and for those investors who failed to get allotments in the public offer can accumulate Tata Technologies on every dips after listing for long term.”
Tata Technologies share price outlook
In an advisory to allottees after a strong listing, Arun Kejriwal, Founder of Kejriwal Research and Investment Services said, “Those who applied for listing gain only, they should book profit and exit. But, those who want to benefit from post-listing euphoria. around Tata Technologies stocks, they advise keeping a trailing stop loss at ₹1299 per levels which must trigger up to ₹1290 for stock levels. But, for a long-term investor, this is an ideal portfolio and one should accumulate every big drop of 5-7 percent.”
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In a hint to those who missed out on getting Tata Technologies shares through allotment process, Arun Kejriwal said, “Fresh entry is not advised in the stock in current scenario. One has to wait for the stock to calm down after the post-listing euphoria ends.”
Disclaimer: The views and recommendations made above are those of individual analysts or trading companies, and not of Mint. We advise investors to check with certified experts before making any investment decision.
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Updated: 30 Nov 2023, 11:39 IST