Netweb Technologies has taken the stock market by storm, soaring a remarkable 89% on its debut on Dalal Street. Investors who were fortunate enough to get allotted shares witnessed a dream start, as the share price opened at ₹942.50 on BSE and ₹947 on NSE, well above the issue price of ₹475 to ₹500 per equity share. The momentum didn't stop there, with the share price surging to an intraday high of ₹953 on BSE and ₹952 on NSE.
Stock market experts are bullish on Netweb Technologies and believe that it may breach the four-digit mark in the near term, provided it sustains above ₹935 on a closing basis. Experts recommend existing Netweb Technologies shareholders to retain the stock with a stop loss set at ₹850. Lucky allottees are encouraged to book 50% of their profits and recover their principal, while keeping the rest for a ₹1,000 target in the near future. As for investors who missed out on the allotment, it is recommended to buy the stock only if it sustains above ₹935.
Anubhuti Mishra, an Equity Research Analyst at Swastika Investmart, attributes the strong listing to the company's impressive track record of growth and improved financial performance in recent years. Netweb Technologies' strategic focus on high-end computing solutions positions it well to capitalize on the burgeoning high-end computing market in India.
Vaibhav Kaushik, a Research Analyst at GCL Broking, echoes the positive sentiment, advising shareholders to maintain a stop loss at ₹850 for a ₹1,000 target in the near term. He anticipates a highly bullish outlook for Netweb Technologies if it closes above ₹935.
For fresh investors or those who missed out on the allotment process, Vaibhav Kaushik suggests investing only above ₹935 with a stop loss at ₹870. Existing shareholders are also advised to upgrade their stop loss from ₹850 to ₹870 in case the stock sustains above ₹935.
It is important to note that the views and recommendations mentioned above are from individual analysts and broking companies, and not from Youblog.live. As always, investors are advised to consult certified experts before making any investment decisions. The stock market can be unpredictable, and informed choices are essential for successful investments.