In a spectacular debut, Jupiter Hospital's share price soared by more than 32% above its listing price on both the BSE and NSE. The stock's incredible performance didn't stop there, as it quickly broke the four-digit barrier within minutes of trading.
Impressive Listing: Jupiter Hospital shares kicked off their journey on BSE at ₹960 per share, while simultaneously opening on NSE at ₹973 per share. This translated into a whopping 32% premium for those fortunate enough to be allotted shares. Investors eagerly watched as Jupiter Hospital's stock price surged.
Record Highs: The stock's meteoric rise continued during a special pre-open session on Monday. Jupiter Hospital's share price reached an intraday high of ₹1,062.40 on NSE and ₹1,061.85 on BSE, breaking through the four-digit threshold.
Investment Insights: Market experts have weighed in on the stock's performance, advising investors on their next moves. Given the prolonged bull trend in both the primary and secondary markets, short-term investors are encouraged to seize profits and exit their positions. On the other hand, those willing to embrace higher risks may consider holding onto the stock, safeguarding their investments with a stop loss set at ₹990. A short-term target of ₹1,100 has been identified.
Expert Opinions: Arun Kejriwal, Founder at Kejriwal Research and Investment Services, cautioned short-term investors about the potential for profit booking in the midst of the bull market. He recommended booking profits and exiting due to the relatively high pricing of Jupiter Hospital shares, especially in light of Yatharth Hospital's recent listing.
A Promising Outlook: Prashanth Tapse, Senior Vice President — Research at Mehta Equities, expressed optimism about Jupiter Hospital's listing. He believes that the demand in the healthcare sector, coupled with expansion plans in Western regions and the appeal of branded hospital chains, justifies the premium listing. Investors looking for the long haul are encouraged to retain their holdings, with a near-term target of ₹1,100. Tapse, however, emphasized the importance of maintaining a stop loss at ₹990 while holding the stock.
Hold or Review: For investors who acquired Jupiter Hospital shares post-listing, Prashanth Tapse suggested holding onto the stock with a stop loss at ₹990 and reassessing the situation when the stock reaches ₹1,100 per share.
IPO Overview: The Jupiter Lifeline Hospitals IPO consisted of a fresh issue of 73.74 lakh shares, raising ₹542 crore, alongside an offer for sale (OFS) of 44.5 lakh shares worth ₹869.08 crore by selling shareholders Devang Vasantlal Gandhi and Neeta Gandhi. The IPO's total issue size stood at ₹869.08 crores.
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