Mukka Proteins: Despite the anticipation surrounding Mukka Proteins’ Rs 224-crore public offering, it fell short of expectations.
Nonetheless, upon its listing on March 7, the company’s stock soared with a 43 percent premium over its issue price. However, the grey market presented a contrasting scenario, with shares experiencing substantial triple-digit gains. This disparity highlights the complexity of market dynamics, where initial perceptions may diverge from actual outcomes.
Curious about the next move for your stock? Here’s the insight from market experts.
“We recommend investors to capitalize on the listing gains and then contemplate reinvesting in the company post-assessing its quarterly performance in the immediate future,” suggested Dhruv Mudaraddi, a research analyst at StoxBox. He emphasized the company’s robust customer base and its solid partnerships with key players in the aqua feed, poultry feed, and pet food sectors.
The strategic positioning of the company’s facilities grants access to essential raw materials and various pelagic fishes like sardines, mackerel, and anchovy, mitigating reliance on a single coastal landing site. “With its robust market position, diverse product range, and international footprint, the company represents an enticing investment prospect within the fish protein industry,” emphasized the source.
Also Read: Mukka Proteins IPO
According to Shivani Nyati from Swastika Investmart, while the issue didn’t achieve its pre-listing highs, the 43 percent premium reflects investor faith. Mukka Proteins offers a promising chance for investors aiming for exposure in the fish protein domain. “Those looking to capitalize on listing gains might consider selling their holdings, but investors with a long-term outlook are encouraged to retain their shares, implementing a stop loss at 35,” she recommended.
Amit Goel from Pace 360 believes that the elegant post-listing performance could attract early adopters. With its industry positioning, investors may find it appealing for potential medium- to long-term returns, he noted. Additionally, he mentioned that the FY24 annualized earnings justify the issue’s reasonable pricing.
Disclaimer: The information provided by Stockeasynow about the stock market is purely informative and should not be interpreted as financial advice. Before making any investing decisions, readers are advised to speak with a licensed financial advisor.
