Tata Technologies’ initial public offering (IPO) was listed at a whopping 140% premium on Indian bourses on Thursday during a special pre-open session. However, after providing a multi-bagger return to the lucky allottees, Tata Technologies’ share price extended its gains and reached 1400 apiece levels on NSE, delivering a 180 percent listing premium to those allottees who remained invested in the stock despite the stellar listing gain from the multi-bagger IPO.
According to stock market experts, demand for Tata Technologies shares is still strong, with around 3.3 crore traded within an hour of its listing on the NSE. They stated that allottees who invested in the Tata Technologies IPO can book profits and exit, whereas a cautious investor can wait for more gains by maintaining a trailing stop loss at 1299 per share levels, which should trigger until 1290 levels. However, for long-term investors, this is an excellent stock to keep in their portfolio. Those who did not receive a Tata Technologies share through the allotment process should wait a few sessions and enter once the stock has settled after the listing euphoria.
Suggestion to Tata Technologies IPO participants
Prashanth Tapse, Senior VP of Research at Mehta Equities, commented on Tata Technologies’ IPO listing, saying, “As expected, a bumper listing above our expectations respecting the legacy of the TATA brand.” Following a surge in subscription demand.
Of the five IPOs, the Tata Technologies IPO attracted a lot of attention in the stock market. In light of the strong demand from investors and the investor-friendly pricing, which demonstrates the Tata Group’s commitment to rewarding shareholders,”
Concerning what to do following a strong share listing, Mehta responded, “Given the growth potential in outsourcing, the business model would be in great demand going forward, and considering all factors, we recommend allotted investors to book 50 percent profits over and above ₹1400 and retain rest of the holding for long term considering healthy long term returns post.
Outlook for the share price of Tata Technologies
Arun Kejriwal, the founder of Kejriwal Research and Investment Services, gave the following advice to allottees following a strong listing premium: “Those who applied for listing gain only, they should book profit and exit.” However, in order to profit from the post-listing frenzy surrounding Tata Technologies shares, investors are recommended to keep their trailing stop loss in place at ₹1299 per share, which must be activated until ₹1290 per share levels. However, this is a great portfolio stock for a long-term investor, and one should buy at every significant drop of 5–7%.”
Arun Kejriwal made the following recommendation to people who were not able to obtain Tata shares through the allotment process: “Fresh entry is not advised in the stock in the current scenario.”After the excitement of the post-listing fades, one should wait for the stock to calm down.”
