Tata Technologies stock zoomed by 159% in early trade on debut.
Gandhar OIl too exceeded grey market expectations with 55% listing gains.
Read More: Bumper listing! Tata Technologies Shares List at 140% Premium; What Should Investors Do?
Fedbank Financial Services stock gave 0.7% listing gains on debut.
Two of three public issues that debuted on D-Street gave stellar listing gains to investors on Thursday. While Tata Technologies stock zoomed by 159% in early trade, Gandhar too exceeded grey market expectations with 55% listing gains.
The stock of Fedbank Financial Services barely moved as it started trading on Thursday with 0.7% listing gains. The IPO of Flair Writing which also opened with earlier issues, will now list on December 1.
| Company | Early listing gains | Grey market premium | Marketcap | Subscription details |
| Tata Technologies | 159% | 75% | ₹52,734 crore | 69x |
| Gandhar Oil | 55% | 44% | ₹2,573 crore | 64x |
| Fedbank Financial Services | 0.7% | NA | ₹5,161 crore | 2.2x |
| IREDA | 87% | 38% | ₹16,123 crore | 38.8% |
*Flair Writing is now listing on December 1
Read More: 4 IPO Listings Today: Check GMP Of Tata Technologies, Gandhar Oil Refinery, Rockingdeals, Fedbank
Hold, buy-on-dips and book profits say analysts
Most experts and the grey market predict all companies to provide double-digit listing gains, with the exception of Fedbank Financial Services. Tata Technologies IPO which broke a record with the number of applications is expected to provide super premium listing gains on the back of its lineage and a well-established business model of the engineering R&D player.
“There is a high possibility that Tata Technologies can be a doubler candidate post listing. Given the growth potential in outsourcing, the business model would be in great demand going forward. We recommend allotted investors to book 50% profits over and above our expectations and retain the rest for the long-term,” said Prashanth Tapse, research analyst, senior VP of research at Mehta Equities.
While oil manufacturer Gandhar Oil also saw healthy subscriptions, and its niche play has also appealed to the brokerages and investors alike. “We recommend allotted investors to book listing day profits over and above our expectations of 30-40% listing gains. Considering limited upside post listing, investors who failed to get allotments in the public offer can accumulate on dips post listing,” says Rajan Shinde, research analyst at Mehta Equities.
Read More: BSE Listed Companies’ Market Cap Hits $4 Trillion Mark For 1st Time Ever
Flair Writing which is known for its stationery products is also branching out into houseware, steel bottles and appliances. While short-term investors who see over 25% listing gains can choose to book profits, there is a case for long-term investors to hold on or accumulate on dips, advises Shinde.
