Exicom share price: Exicom Tele-Systems Limited’s equity shares debuted on the BSE and NSE today, trading at a whopping 86 percent premium above the issue price of ₹135 to ₹142 per share. Exicom’s stock price began trading at ₹264 on the BSE, but it opened at ₹265 on the NSE. But despite a great start on Dalal Street, Exicom’s share price was unable to maintain at such a premium, and profit booking quickly ensued. After listing, the price of Exicom Tele-Systems shares fell to an intraday low of ₹233.10 per share on the NSE in a matter of minutes.
Stock market experts claim that despite Exicom’s impressive debut on Dalal Street, the share price is under pressure, and the large trade volume in the scrip following the listing points to further selling pressure. Despite the profit-booking trigger, they recommended share allottees to book a partial profit because they are already receiving over 50% of the listing gain. Market analysts advised investors who made their investments only for listing gains, however, to book a profit and quit on any increase above the intraday low.
Exicom share price outlook
Prashant Thapse, Senior Vice President of Research at Mehta Equities, commented on the forecast for the share price of Exicom Tele-Systems and said, “Exicom share listing was in line with our expectations.” Exicom’s early foray into the production of EV charger solutions and its strategic alliances with automakers and charging station operators, which cemented the company’s dominant position in the market, served as justification for the premium listing. Therefore, taking into account all factors, we advise allocated investors to book profits, while those who were not allocated can wait for and watch for better possibilities.”
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Arun Kejriwal, the founder of Kejriwal Research and Investment Services, made the following recommendation to investors with a long-term view: “Those with a long-term view on shares of Exicom Tele-Systems Limited, should book 50% profit and hold the rest and wait for a big correction in the Indian stock market.” Given that the major benchmark indexes are currently trading at all-time highs, profit-booking could occur at any moment. Overvalued equities are predicted to lose more than others in a bear market like this one. Reentering at that time is more advised because the Exicom share price would be at its optimal fair value at that point.
