Supriya Lifescience shares make strong debut. Should you hold, buy or sell?


Supriya Lifescience shares made strong debut at Indian stock market today after opening at 421 on NSE and 425 on BSE, delivering around 53 per cent premium to the allottees. In special pre-open session, Supriya Lifescience share price today opened at 421 on NSE and went on to make its intraday low of 385 per share on NSE. As per stock market experts, Supriya Lifescience stocks may go up to 360 levels and predicted bounce back up to 488 levels in next 3 months.

According to stock market analysts, Supriya Lifescience share price may witness some profit booking and come further down at around 360 apiece levels. However, they maintained that 360 to 385 will be a strong buying zone for the stock for those who missed to get Supriya Lifescience shares during allotment process. For those who got Supriya shares during allotment, they advised long term investors to hold the counter whereas for short term investors, they advised 100 profit booking.

Expecting further rise in Supriya Lifescience share price; Ravi Singhal, Vice Chairman at GCL Securities said, “Currently, Supriya Lifescience shares are under profit booking pressure, but fundamentals of the company is quite strong and those who applied for the public issue with long-term view are advised to hold the scrip further. There won’t be much slide in the counter and we are expecting bounce back from 350 to 360 levels.”

Echoing with Ravio Singhal’s views; Manoj Dalmia, Founder & Director at Proficient Equities Limited said, “The company has really good revenues and profits while exporting 75 per cent of products to more than 86 countries. The issue price is asking P/E of 16.72 and on the basis of the FY21, it is 17.80. Thus the issue is attractively priced the long term growth prospects are really great we recommend holding for the long term.”

Speaking on Supriya Lifescience share price outlook; Santosh Meena, Head of Research, Swastika Investmart Ltd said, “In the last 3-5 years, the API and specialty chemical industry have been darling for investors, and we believe that this trend will continue for several years. As a result of the decent participation from investors, the IPO debuted at 421 versus the issue price of 274, a premium of 53 per cent. In the long run, investors should hold the stock while those who applied for listing gains can keep a stop loss of 380 on a closing basis. New investors can also look for buying opportunities in dips.”

On advice to fresh investors; Ravi Singhal of GCL Securities said, “Supriya Lifescience shares can be bought in 360 to 385 range as there can be sharp bounce back in the stock after profit booking. One can buy the scrip in this range for 3 month target of 488 maintaining strict stop loss at 329 levels.”

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

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