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Business News/ Markets / Stock Markets/  Exicom share price dips after stellar debut on Dalal Street. Buy, sell or hold?
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Exicom share price dips after stellar debut on Dalal Street. Buy, sell or hold?

Exicom share price opened on BSE at ₹264 whereas it opened on NSE at ₹265 apiece

Stock market today: Exicom share price crashed to the tune of 10% after making a dream debut on Dalal Street. (Photo: Courtesy NSE 'X' channel account)Premium
Stock market today: Exicom share price crashed to the tune of 10% after making a dream debut on Dalal Street. (Photo: Courtesy NSE 'X' channel account)

Stock market today: Shares of Exicom Tele-Systems Limited today listed on the BSE and NSE at a bumper 86 percent premium against the issue price of 135 to 142 per equity share. Exicom share price opened on BSE at 264 apiece whereas on the NSE, Exicom shares opened at 265 per share. However, Exicom share price failed to sustain at such a premium, and profit booking was soon triggered after the strong debut on Dalal Street. Exicom Tele-Systems share price touched an intraday low of 233.10 apiece on NSE within a few minutes of listing.

According to stock market experts, Exicom share price is under pressure after a strong debut on Dalal Street and high trade volume in the scrip post-listing suggests more selling pressure. They advised share allottees to book partial profit as they are already getting over 50 percent listing gain despite the profit-booking trigger. However, for those who invested for listing gain only, market experts asked them to book profit and exit on any rise from the intraday low.

Exicom share price outlook

Speaking on Exicom Tele-Systems share price outlook, Prashant Thapse, Senior Vice President — Research at Mehta Equities said, "Exicom share listing was in line with our expectations. The premium listing was justified on the back of early entry into EV charger solution manufacturing and strategic partnerships with automotive OEMs and charging station operators solidifying Exicom's market leadership position. Hence, considering all parameters we recommend allotted investors to book profits, and those who failed to get allotments can wait and watch for better opportunities."

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On the suggestion to those who have a long-term view, Arun Kejriwal, Founder of Kejriwal Research and Investment Services said, "Those who have a long-term view on shares of Exicom Tele-Systems Limited, should book 50 percent profit and hold the rest and wait for a big correction in the Indian stock market. As the key benchmark indices are trading at record highs, profit-booking can trigger at any time. In such a bear market, overvalued stocks are expected to lose more than others. At that time, Exicom share price would be at an ideal fair value, and re-entering at that time is more advisable."

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.

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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. Download The Mint News App to get Daily Market Updates.
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Published: 05 Mar 2024, 11:40 AM IST
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