Cyient DLM share price opens at strong premium. Buy, sell or hold?

Cyient DLM share price opened at a strong listing premium on the Indian stock market, delivering a 51% listing gain to the lucky allottees

Asit Manohar
Published10 Jul 2023, 10:34 AM IST
Cyient DLM IPO: Experts predict further gains, with a target price of  <span class='webrupee'>₹</span>470 to  <span class='webrupee'>₹</span>480 per share. Investors who missed out on the IPO are advised to wait for a correction and buy in the range of  <span class='webrupee'>₹</span>380 to  <span class='webrupee'>₹</span>390.
Cyient DLM IPO: Experts predict further gains, with a target price of ₹470 to ₹480 per share. Investors who missed out on the IPO are advised to wait for a correction and buy in the range of ₹380 to ₹390.(Photo: Courtesy Cyient DLM website)

Cyient DLM share price opened today at a strong listing premium on Indian stock market bourses. Cyient DLM IPO listed on BSE at 401 apiece and went on to hit intraday high of 424.40 apiece whereas on NSE, Cyient DLM shares opened at 403 on NSE and went on to hit intraday high of 425 apiece within few minutes of share listing. After this strong listing, Cyient DLM IPO delivered around 51 per cent listing gain to its lucky allottees against the Cyient DLM IPO prie band of 250 to 265 per equity share.

According to stock market experts, Cyient DLM share price may extend its gains and go up to 480 apiece levels in near term. So, those who have been allocated Cyient DLM shares during allotment process, they are advised to hold the scrip for the above mentioned target whereas for those who missed to get company shares during share allotment process, they are advised to wait and buy around 380 to 390 range.

Speaking on Cyient DLM share price outlook, Vaibhav Kaushik, Research Analyst at GCL Broking said, "Cyient DLM share price listing above 50 per cent premium is on the expected lines of the markets and we are expecting this stock to further move upside. It may go up to 470 to 480 per share levels. So, those who have been allocated Cyient DLM shares during allotment, are advised to hold the scrip for 470 to 480 target for near term. However,, they must maintain a trailing stop loss at 377 apiece levels."

What next after dream debut?

Advising Cyient DLM shareholders to further hold the scrip, Anubhuti Mishra, Equity Research Analyst at Swastika Investmart said, "Cyient DLM is a fundamentally strong company. It has a strong track record of growth, and is well-positioned to benefit from the growing demand for digital manufacturing solutions. We will recommend existing investors to hold the shares for the long term as the company has good growth prospects."

For those who missed to get Cyient DLM shares during allotment process, Vaibhav Kaushik of GCL Broking said, "Fresh entry is not advisable at current levels. One should wait for some correction as 380 to 390 would be a good supply zone for fresh investors. If the stock eases and comes in this range, then one can accumulate more scrips in this zone while fresh entry can also be initiated with stop loss at 377 apiece levels for near term target of 470 to 480 apiece."

The Cyient DLM IPO, which was valued at 592 crore, was a full fresh issue of 2.23 crore shares. At the high end of the pricing range, its values came at 2,000 crore.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.

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First Published:10 Jul 2023, 10:34 AM IST
HomeMarketsStock MarketsCyient DLM share price opens at strong premium. Buy, sell or hold?

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