Cyient DLM, the digital manufacturing solutions company, witnessed a strong listing premium as its share price opened on the Indian stock market. The Cyient DLM IPO listed on BSE at ₹401 per share and reached an intraday high of ₹424.40 per share. On NSE, the shares opened at ₹403 and surged to ₹425 per share within minutes. This impressive listing provided lucky allottees with a substantial gain of around 51% compared to the IPO price range of ₹250 to ₹265 per equity share.
Stock market experts believe that Cyient DLM's share price may continue to rise and reach levels of ₹480 per share in the near term. Hence, if you were lucky enough to receive Cyient DLM shares during the allotment, it is recommended to keep them and aim for a target price range of ₹470 to ₹480. For those who missed out on acquiring shares during the allotment, it is recommended to wait and consider buying in the range of ₹380 to ₹390.
Commenting on the outlook for Cyient DLM's share price, Vaibhav Kaushik, Research Analyst at GCL Broking, stated, "The listing of Cyient DLM shares at a premium of over 50% aligns with market expectations, and we anticipate further upside potential for this stock. It may reach levels of ₹470 to ₹480 per share. Therefore, those who were allocated Cyient DLM shares should hold the stock with a target of ₹470 to ₹480 in the near term. However, it is important to maintain a trailing stop loss at ₹377 per share."
What's next after the dream debut? Advising existing Cyient DLM shareholders to continue holding the stock, Anubhuti Mishra, Equity Research Analyst at Swastika Investmart, highlighted the company's strong fundamentals, impressive growth track record, and its position to benefit from the increasing demand for digital manufacturing solutions. Mishra recommends long-term holding as the company exhibits promising growth prospects.
For potential investors who missed out on the allotment, Vaibhav Kaushik of GCL Broking suggests caution at current levels and advises waiting for a correction. A favorable entry point would be in the range of ₹380 to ₹390, where one can accumulate more shares. Fresh investors can initiate a position with a stop loss at ₹377 per share and target the range of ₹470 to ₹480 in the near term.
Cyient DLM IPO, valued at ₹592 crore, consisted a full fresh issue of 2.23 crore shares. At the high end of pricing range, the company's valuation reached ₹2,000 crore.
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