Apeejay Surrendra Park Hotels share price rebounds after profit-taking. Buy, hold or exit? | Mint
Active Stocks
Fri Feb 23 2024 15:58:13
  1. Tata Steel share price
  2. 145.50 -0.24%
  1. State Bank Of India share price
  2. 759.40 -0.86%
  1. HDFC Bank share price
  2. 1,420.90 0.08%
  1. NTPC share price
  2. 337.70 -0.54%
  1. ITC share price
  2. 411.60 -0.65%
Business News/ Markets / Stock Markets/  Apeejay Surrendra Park Hotels share price rebounds after profit-taking. Buy, hold or exit?
BackBack

Apeejay Surrendra Park Hotels share price rebounds after profit-taking. Buy, hold or exit?

Apeejay Surrendra Park Hotels share allottees may hold the scrip maintaining stop loss below ₹170 apiece, say experts

Stock market today: Fresh investors can buy Apeejay Surrendra Park Hotels shares at the current market price maintaining a stop loss below ₹155 level, say experts. (https://www.theparkhotels.com/)Premium
Stock market today: Fresh investors can buy Apeejay Surrendra Park Hotels shares at the current market price maintaining a stop loss below 155 level, say experts. (https://www.theparkhotels.com/)

Stock market today: Apeejay Surrendra Park Hotels share price today listed on BSE and NSE delivering around 20 percent return to the lucky allottees. However, the stock soon came under sell-off pressure after the profit-booking trigger. But, Apeejay Surrendra Park Hotels shares soon attracted bulls' attention and bounced back strongly from its intraday low of 170.15 per share on BSE and touched a new intraday high of 191.70 per share.

According to stock market experts, a healthy listing of Apeejay Surrendra Park Hotels shares is justified as the hospitality sector is expected to generate an alpha return in the coming years. They advised allottees to hold the scrip and advised fresh investors to maintain buy on dips strategy and hold the scrip for the medium to long term maintaining a stop loss below 170 per share.

Apeejay Surrendra Park Hotels share price outlook

Advising Apeejay Surrendra Park Hotels share allottees to hold the scrip, Prashanth Tapse, Senior VP — Research at Mehta Equities said, "We believe the healthy listing is justified on the back of reasonable valuations when compared to its peers followed by government push towards hospitality and tourism industry and its primary objective of reducing the debt which could lighten interest burdens which can improve the bottom lines in coming years. Hence, we recommend allotted investors to “HOLD" with a long-term perspective. For non-allottees, one can accumulate more in dips post a listing and look to hold for a long term like 3-5 years time horizon."

Also Read: Bharat Forge shares hit lifetime high ahead of Q3 results today. Buy or sell?

"Looking ahead, Apeejay Surrendra Park Hotels's strategic initiatives, including debt reduction and its unique blend of hotel and F&B services, position it favorably for sustainable growth and market leadership. We advise investors who have received allotment to hold shares from a medium to long-term perspective," said Dhruv Mudaraadi, Research Analyst at StoxBox.

On the suggestions to the lucky allottees post-strong listing of Apeejay Surrendra Park Hotels shares, Avinash Gorakshkar, Head of Research at Profitmart Securities said, "Allottees of the public issue can hold the scrip for medium to long-term maintaining stop loss below 170 and keep on accumulating on every bid dip."

Also Read: NBCC stock slides for 6th day in a row, locked in 10% lower circuit

For the suggestion to fresh investors, Avinash Gorakshkar said that one can maintain buy on dips strategy maintaining stop loss at the 155 apiece level.

Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
More Less
Published: 12 Feb 2024, 12:21 PM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Switch to the Mint app for fast and personalized news - Get App