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Data Patterns shares today made a strong debut in the primary markets delivering 47 per cent listing gain to the allottees. Data Patterns share price opened for trade at 856 per share levels on the NSE against its issue price of 555 to 585 apiece. On BSE, the defence stock listed at 864 levels.

According to stock market experts, those who invested in the public issue for short term, they can maintain a stop loss of 790 and maximise one's listing premium. However, for those who have a medium-term vision can hold the stock for 3 month target of 999 whereas for those who have a long term time horizon can hold the stock for 3 to 5 years. They said that fresh buyers can buy the stock at around 740 levels for 3 months target of 999.

Speaking on Data Patterns share price outlook; Ravi Singhal, Vice Chairman at GCL Securities said, "In the wake of Make in India initiative, this defence stock is expected to remain in uptrend. Allottees of Data Patterns shares are advised to hold the stock for next 3 month target of 999 and keep on accumulating till it is above 666. In fact Data Patterns shareholders should maintain a trailing stop loss at 666 and book profit when Data Pattern share price comes around 999."

For fresh advisors, Ravi Singhal of GCL Securities said that fresh investors should enter at 740 per share levels and maintain stop loss at 666 and book profit at around 999 levels. He advised Data Patterns shareholders to accumulate at around 740 if they have a 3 month time horizon.

Advising Data Patterns shareholders to hold for as long as one can; Santosh Meena, Head of Research, Swastika Investmart Ltd said, "For long term investors, Data Pattern shares would be a wealth generator in the next 3-5 years, whereas short-term investors are advised to keep a stop loss of 790 on a closing basis. The company can grow rapidly and exponentially by taking advantage of the government's ‘Make In India’ initiative in the near future."

Founded by Srinivasagopalan Rangarajan and Rekha Murthy Rangarajan, Data Patterns is a vertically integrated defence and aerospace electronics solutions provider. It is backed by former Blackstone head Matthew Cyriac via Florintree Capital Partners LLP, which holds a 12.8 per cent stake in the company.

Data Patterns works closely with the defence PSUs such as Hindustan Aeronautics Ltd and Bharat Electronics Ltd as well as government organisations involved in defence and space research like DRDO.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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