September 5, 2023
Vishnu Prakash shares made an impressive debut on Indian stock market exchanges with a robust premium during the special pre-open session this Tuesday. The excitement was palpable as Vishnu Prakash's share price opened at ₹163.30 on BSE and ₹165 on NSE. However, after this strong listing, profit booking quickly set in, causing the newly listed stock to dip to ₹146.55 on NSE and ₹145.05 per equity share on BSE.
For those who applied for Vishnu Prakash shares for the short term, experts recommend booking profits and exiting. But for those with a medium to long-term view, holding the stock while maintaining a stop loss below ₹140 is advisable. Experts suggest booking around 40% profit and keeping the rest for potential medium to long-term gains, considering the impressive 55% return on investment.
Vishnu Prakash Share Price Outlook
Equity Research Analyst Anubhuti Mishra from Swastika Investmart commented on Vishnu Prakash's listing, stating, "Vishnu Prakash R Punglia Limited (VPRPL) made its debut on the stock markets today, listing on the exchange at a gain of around 66%."
The strong listing premium was attributed to the company's well-established reputation in the water supply sector and its consistent track record. Additionally, Vishnu Prakash stands to benefit from various government initiatives, which are expected to fuel its growth in the coming years. The IPO garnered significant investor interest, with a subscription rate of 87.82 times.
Market expert Avinash Gorakshkar advised short-term investors to secure their profits and exit. For medium to long-term investors, booking partial profits is also advisable, given the already impressive 55% returns. Anubhuti Mishra of Swastika Investmart suggested that IPO participants could either cash out immediately or opt for a long-term hold strategy.
Vishnu Prakash Share Price Target
For medium to long-term investors, Mahesh M Ojha, AVP – Research and Business Development at Hensex Securities, recommends holding the stock with a stop loss at ₹138. Long-term investors can set their sights on equity share targets ranging from ₹225 to ₹240.
Disclaimer: The views and recommendations mentioned above are those of individual analysts and brokerage firms and do not represent the views of YouBlog.live. We strongly advise investors to seek guidance from certified experts before making any investment decisions.