Fino Payments Bank shares list at discount. Should you buy now?

Market


Fino Payments Bank shares made a tepid debut at Indian bourses as the fintech company’s stock listed at around 6 per cent premium today. However, stocks market experts are of the opinion that listing of shares at discounted price was mainly due to the higher valuations and company’s financials are quite promising in long-term time-horizon.

According to stock market experts, Fino Payments Bank is a fast growing fintech firm and one can keep this stock in one’s portfolio for long-term. They advised long-term investors to buy the counter at around 10 per cent below its upper price band and keep on accumulating for next 10 per cent lower levels.

Speaking on Fino Payments Bank share price outlook; Parth Nyati, Founder at Tradingo said, “Fino payment has made a tepid debut in secondary market. As per our expectations, it may continue to remain under pressure post-listing because of valuations concerns, competition, and regulatory challenges. However, Fino Payments Bank is a fast-growing fintech company and it is one of its kind companies to list on the stock exchanges whereas its unique DTP network and new edge business model provide it an edge. Aggressive investors can look to buy it at 10-20 per cent correction from here for the long term.”

Unveiling strategy in Fino Payments Bank shares; Ravi Singhal, Vice Chairman at GCL Securities said, “If Fino Payments Bank share price continues to dip further then one should buy at around 488 per share levels for the six month target of 566 and 620 maintaining stop loss at 444. However, in case there is no further dip witnessed in the counter, then one can buy only above 625 per share levels for six month target of 777 maintaining stop loss at 597 levels.”

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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