RR Kabel, a renowned player in the cable and wire industry, made quite the entrance into the stock market. Its share price shot up by an impressive 14%, surpassing market expectations. But what should you do now? Let's break it down.
The Thrilling Start: RR Kabel's share price opened at ₹1,179 on the Bombay Stock Exchange (BSE) and ₹1,180 on the National Stock Exchange (NSE). It didn't stop there; the stock climbed to an intraday high of ₹1,198 on NSE and ₹1,198.05 on BSE.
The Expected Dip: As anticipated, profit booking soon kicked in, causing a slight dip in the share price. It settled at ₹1,143.10 on BSE and ₹1,136.80 on NSE.
Expert Advice: Market experts have weighed in on the situation. Arun Kejriwal, Founder at Kejriwal Research and Investment Services, suggests booking profits and considering an exit. He points out that most of the IPO proceeds will go to the promoters, impacting the company's finances minimally.
Prashanth Tapse, Senior Vice President — Research at Mehta Equities, agrees. He recommends that those allotted RR Kabel shares during the IPO should book profits and exit. Other industry peers like KEI and Polycab are expected to outperform RR Kabel.
Missed the IPO?
If you missed out on RR Kabel shares during the IPO, Tapse advises against fresh investments at current levels. Instead, explore other public issues or alternative options in the same industry.
Final Thoughts: RR Kabel's exciting market debut sets the stage for interesting developments ahead. Whether you buy, hold, or exit, remember to make investment decisions wisely. Consider your financial goals and seek guidance from certified experts.
In a nutshell, RR Kabel's journey in the stock market promises excitement, but tread carefully to make the most of it.