Jupiter Hospital share price extends gain after listing at strong premium. Buy, hold or exit?

Stock market today: Jupiter Hospital share price listed on BSE at ₹960 apiece levels whereas it opened on NSE at ₹973 per share levels, delivering over 32 per cent listing gain to the lucky allottees. However, Jupiter Hospital shares extended its gain further deep and went on to hit four-digit figure within few minites of listing in special pre-open session during Monday deals. Jupiter Hospital share price climbed to its intraday high of ₹1,062.40 apiece levels on NSE whereas it made new high of ₹1061.85 on BSE.

According to market experts, both secondary and primary market is in bull trend for long and profit booking may trigger any time. So, short term investors are advised to book profit and exit immediately whereas high risk investors can hold the stock maintaining stop loss at ₹990 for short term target of ₹1,100 levels.

On suggestiong to Jupiter Hospital shareholders, Arun Kejriwal, Founder at Kejriwal Research and Investment Services said, "short term investors are advised to book profit and exit as both primary and secondary market have been in bull trend for long and profit booking may trigger any time. Considering the recently listed Yatharth Hospital share listing, Jupiter Hospital shares are looking highly priced and hence there is possibility of sharp downside movement in the scrip once the profit-booking triggers on Dalal Street."

Jupiter Hospital share price target

Speaking on strong Jupiter Hospital listing, Prashanth Tapse, Senior Vice President — Research at mehta Equities said, "Considering demand in the healthcare sector and expansion plan in Western Regions followed by fancy demand for branded chain of hospitals, justifies the healthy premium listing. So, those allottees who want to hold the scrip for long, they are advised to hold the stock for near term target of ₹1,100. However, he strictly advised investors to maintain stop loss at ₹990 while holding the scrip."

For those who bought Jupiter Hospital shares after listing, Prashanth Tapse of Mehta Equities said that they can also hold the stock with ₹990 stop loss and review the stock once it hits ₹1,100 apiece levels.

Jupiter Life Line Hospitals IPO was made up of fresh issue of 73.74 lakh shares that totaled to ₹542 crore and offer for sale (OFS) portion consisted of 44.5 lakh shares of ₹10, aggregating to ₹869.08 crore sold by promoter selling shareholder Devang Vasantlal Gandhi, and Neeta Gandhi. Jupiter Lifeline Hospitals IPO total issue size was ₹869.08 crores.

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.