Bharti Hexacom shares are up 9% today; what’s ahead for the recent D-Street debutant?

Bharti Hexacom shares: In Tuesday’s trading session, the shares of Bharti Hexacom Ltd saw a notable surge of 8.82%, reaching a peak value of Rs 877. This price was only 0.33% shy of its highest level on the listing day, which stood at Rs 879.90. The stock had a robust debut on D-Street last Friday, April 12th.

Bharti Hexacom’s stock has experienced a significant increase of 53.86% from its initial public offering (IPO) price of Rs 570, reaching a high of Rs 877 today.

Ravi Singh, Senior Vice-President (Retail Research) at Religare Broking, anticipates some profit booking shortly for the stock. According to Singh, there’s a possibility of it declining to around Rs 820, with resistance expected at Rs 880.

Jigar S Patel, Senior Manager – Technical Research Analyst at Anand Rathi Shares and Stock Brokers, stated that support is likely to be found at Rs 845, with resistance anticipated at Rs 875. Patel added that a conclusive closure above the Rs 875 mark could potentially lead to additional gains of up to Rs 900. He projected a trading range of Rs 800 to Rs 900 for the upcoming month.

According to AR Ramachandran from Tips2trades, Bharti Hexacom exhibits robust support at Rs 832. If there’s a daily closure above the resistance level of Rs 879, it could pave the way for a target of Rs 955 shortly.

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Bharti Hexacom stands as a wholly-owned subsidiary under the umbrella of the telecom giant, Bharti Airtel Ltd. Operating within the telecommunications sector, Bharti Hexacom specializes in providing fixed-line telephone and broadband services. Its operational reach extends to the Rajasthan and North East telecom circles within India. Catering to a diverse clientele, the company delivers its services across states like Rajasthan, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura.