Krystal Integrated Services share price retraces over 20% from record high. Opportunity for bottom fishing?

Krystal Integrated Services share price declined over 4% on Friday amid broader weakness in the Indian stock market. Krystal Integrated Services shares have dropped as much as 4.27% to a low of ₹795.05 apiece on the BSE.

With today’s fall, Krystal Integrated Services share price has tanked over 22% from its record high of ₹1,023.75 apiece, hit on April 12, 2024. However, in the past one month, the stock has risen more than 16%.

Krystal Integrated Services shares had made a decent stock market debut on March 21, 2024. The stock was listed with a premium of 11.2% at ₹795 apiece on the BSE as against its issue price of ₹715 per share.

Krystal Integrated Services share price today hit the level near to its listing price. Analysts believe this fall in Krystal Integrated Services shares can be used as an opportunity to buy the stock given its strong growth fundamentals.

“Krystal Integrated Services, a leading facilities management company with a focus on healthcare, education, and public administration, has seen impressive profit growth over the last five years. With a fair PE ratio and solid ROE, the stock offers long-term potential,” said Vaibhav Kaushik, Research Analyst, GCL Broking.

Kaushik advises investors to maintain their long positions in Krystal Integrated Services shares with a stop loss at ₹765, ensuring risk management while capitalizing on the company’s strong fundamentals and consistent performance across key sectors.

“Krystal remains a promising investment for those looking for stable growth in this space,” Kaushik said.

Meanwhile, on Thursday, Krystal Integrated Services announced that it secured a pivotal contract with Thane Municipal Corporation valued at ₹71.4 crore.

This contract, to provide waste management services in the Mumbra region, will continue through July 2026, with annual renewal options, underscoring a significant expansion into sustainable services, the company said in a regulatory filing.

Technical View

Sumeet Bagadia, Executive Director at Choice Broking said Krystal Integrated Services share price may witness a trend reversal once the Indian stock market bias changes.

“Krystal Integrated Services stock has made a strong base at ₹750 apiece and is facing a hurdle at ₹900. So, Krystal Integrated Services shareholders can hold the scrip, maintaining a stop loss at ₹750 for the near-term target of ₹900. Fresh investors can also buy this discounted stock at the current market price for the near-term target of ₹900,” Bagadia said.

However, he suggests maintaining a strict stop loss of ₹750 while taking any fresh buy position in the Krystal Integrated Services shares.

At 2:50 pm, Krystal Integrated Services shares were trading 2.74% lower at ₹807.80 apiece on the BSE. 

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 making any investment decisions.