Hariom Pipe Industries shares made a dream debut on Dalal Street today as Hariom Pipes share price today opened on BSE at ₹214 apiece levels whereas on NSE it opened at ₹220 per share levels, delivering around 44 per cent premium to the allottees. However, stock market experts are still bullish on the counter as the stock has witnessed strong appetite from both retail and anchor investors.
Stock market experts said that allottees should book 50 per cent profit and remain invested in the stock for 6 months target of ₹320 per share levels maintaining stop loss at ₹197 apiece levels. For those who missed to get Hariom Pipe shares during allotment, they advised them to buy at current levels for one month target of ₹270 maintaining stop loss at ₹212.
However, for for fresh investors, they advised them to buy with 50 per cent surplus amount maintaining stop loss at ₹212. If the stock rises then such investors are advised to book profit around ₹270 levels. However, in case it dips and comes close to ₹212 or below ₹220, then fresh investors should accumulate with rest 50 per cent amount maintaining stop loss at ₹197 levels.
Speaking on Hariom PIpes share price listing; Ravi Singhal, Vice Chairman at GCL Securities said, "As the public issue has opened at around 44 per cent premium, allottees are advised to book 50 per cent profit and fish out their principal amount invested in IPO. They can hold the rest for 6 month target of ₹320 maintaining stop loss at ₹197 per share levels."
On how to maximise one's Hariom Pipe IPO listing gain; Santosh Meena, Head of Research, Swastika Investmart Ltd said, "Hariom Pipes Ltd. has debuted on the secondary market at ₹220 with a handsome gain. The company’s good listing can be attributed to good market sentiments and good prospects for the Steel Pipes industry. The company has an integrated nature of operations, a cost-effective process and an experienced management team. However, the cyclical nature of the industry, and commoditized nature of products make it suitable only for the aggressive investors in the long term. Those who applied for listing gains can maintain a stop loss of ₹195 and book profit on rise."
For those who missed to get Hariom Pipes shares during allotment; Ravi Singhal of GCL Securities said, "Hariom Pipes share price is currently in the range of ₹212 to ₹270. Those who want to buy this stock are advised to use 50 per cent of their surplus amount and buy Hariom Pipe shares at current levels maintaining stop loss at ₹212 levels. If it comes down at around ₹212 or below ₹220, then they should accumulate the stock with rest 50 per cent amount maintaining stop loss at ₹197 per share levels for 6 month target of ₹320 levels. However, in case the stock surges and comes close to ₹270, then they are advised to book profit."
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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