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Business News/ Markets / Stock Markets/  Ashish Kacholia-backed Aeroflex Industries shares dip after strong debut. Buy, sell or hold?

Ashish Kacholia-backed Aeroflex Industries shares dip after strong debut. Buy, sell or hold?

Ashish Kacholia-owned Aeroflex Industries shares witnessed profit booking after listing on BSE and NSE at around 83% premium

Aeroflex Industries share price opened on BSE at ₹197.40 whereas on NSE it listed at ₹190 apiece levels. (Photo: Courtesy Aeroflex Industries Ltd website)Premium
Aeroflex Industries share price opened on BSE at 197.40 whereas on NSE it listed at 190 apiece levels. (Photo: Courtesy Aeroflex Industries Ltd website)

Ashish Kacholia-backed Aeroflex Industries share listed on BSE and NSE in style as the book build issue delivered around 83 per cent listing premium to its lucky allottees. However, the Ashish Kacholia portfolio stock witnessed profit booking within few minutes of listing and it came down to the tune of 10 per cent after dream debut on Dalal Street. On BSE, Aeroflex Industries share price made its intraday low of 166.50 per share while it made intraday low of 166.50 on NSE as well.

According to stock market experts, this Ashish Kacholia-backed company has promising business outlook and hence, those who have this stock in portfolio should at least book profit per cent profit and hold the rest shares for medium to long term. For those who missed to get Aeroflex Industries shares through allotment process, they are advised to wait as the stock has listed at a whopping 83 per cent premium on BSE.

On outlook for Aeroflex Industries shares, Mahesh M. Ojha, AVP – Research and Business Development at Hensex Securities Pvt Limited said, “Aeroflex Industries caters to players in various industries, has a widely diversified customer base and operates with a wide range of products; the company has great growth potentials. We recommend investors to book at least 50 per cent profits on the listing day itself, rest can be kept on hold for medium to long horizon."

Aeroflex Industries share price outlook

Advising Aeroflex Industries shareholders to hold the scrip for medium to long term, Pravesh Gour, Senior Technical Analyst, Swastika Investmart said, “The company currently has no listed peers. It has an export-oriented business model, and it generates around 80 per cent of its revenue from exports alone. Aeroflex's future strategies look promising. The company plans to expand its global and domestic businesses, and it is investing in new technologies to improve its products. We believe that these strategies have the potential to drive long-term growth and profitability for the company."

Swastika Investmart expert maintained that those who have a medium- to long-term perspective can also hold the stock.

For those who missed to get this Ashish Kacholia-backed company's shares via share allotment process, Prashanth Tapse, Senior VP — Research at Prashanth Tapse said, “Post strong debut of Aeroflex Industries, we see valuation would be stretched and investors should look to booking profits. Hence we recommend allotted investors to book profits on the listing day and those who look to buy on listing day should wait and watch before buying at debut price."

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

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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.
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Published: 31 Aug 2023, 11:39 AM IST
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