Nykaa shares made strong debut on Indian bourses as shares of FSN E-Commerce Ventures got listed today at around 79 per cent premium. Nykaa stocks listed at ₹2018 apiece on NSE where as it listed at ₹2001 per shares on BSE. As per stock market experts, those who got shares of the company via share allotment process should book 50 per cent profit and hold the rest for two year target of ₹3600 per share levels.
According to stock market experts, Nykaa shares have listed at around 79 per cent premium. Sso, lucky bidders should book 50 per cent profit and recover their principal. They advised Nykaa shareholders to keep the rest 50 per cent Nykaa shares for long-term keeping at least two year time-horizon in focus. For those who missed to get Nykaa shares during allotment process, experts advised them to buy Nykaa shares at around ₹1900 levels for two year target of ₹3600.
Speaking on Nykaa share price outlook; Ravi Singhal, Vice Chairman at GCL Securities said, “Those who got Nykaa IPO through allotment are advised to book 50 per cent profit and keep the rest 50 per cent for 2 years target of ₹3600. However, for those who missed to get Nykaa shares during allotment are advised to wait for some profit-booking and buy at around ₹1900 per share levels for two year target of ₹3600. However, one must maintain stop loss at ₹1770 while taking fresh buy position in the scrip.”
Advising investors to buy Nykaa shares in calibrated manner; Santosh Meena, Head of Research, Swastika Investmart Ltd said, “We are expecting upside momentum to continue for at least 1-2 days. Then it may be stabilized for some time because valuation could be a concern after a big listing gain. However, ₹2000 level could act as a support level in the near term. It may head towards ₹2100 to ₹2200 levels even after a big opening. Those who were playing for listing gain can keep a stop loss of ₹1950 while aggressive investors are advised to hold this stock for the long term because it is one of the few stocks in new edge companies to own into your portfolio. It is difficult to buy after a big gain at opening, however fresh investors can accumulate in parts where they can buy 25 per cent at the opening of what they want to invest into this stock while if it witnesses any correction towards ₹1800 level then they can add more.”
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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