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Business News/ Markets / Stock Markets/  Platinum Industries share price lists at 31% premium. Buy, hold or sell?
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Platinum Industries share price lists at 31% premium. Buy, hold or sell?

Platinum Industries share price listed on BSE at ₹228 apiece whereas it listed on the NSE at ₹225 per share

Stock market today: Platinum Industries share price crashed 7.5% from its intraday high after the profit-booking trigger. (Photo: Courtesy NSE 'X' channel account)Premium
Stock market today: Platinum Industries share price crashed 7.5% from its intraday high after the profit-booking trigger. (Photo: Courtesy NSE 'X' channel account)

Stock market today: Platinum Industries share price today listed on BSE and NSE at a robust 31 percent listing premium. After a strong debut on Dalal Street, Platinum Industries shares extended its gains and went on to touch an intraday high of 236.25 apiece on NSE and 237 per share on BSE. However, the newly listed stock couldn't sustained at higher levels after the profit-booking trigger. On profit-taking, Platinum Industries share price nosedived to the tune of 7.5 percent from the intraday high.

According to stock market experts, Platinum Industries share price listing was below expectations due to subdued stock market mood. They said that the stock may continue to feel the selling heat and advised share allottees to book profit and exit.

Platinum Industries share price outlook

Speaking on Platinum Industries share price outlook, Prashant Thapse, AVP — Research at Mehta Equities said, "Platinum Industries share listing was below street expectation mainly on the back of subdued markets. Considering market mood, we recommend allotted investors to book profits and those who failed to get allotments can wait and watch for better opportunities."

Also Read: Exicom share price dips after stellar debut on Dalal Street. Buy, sell or hold?

On the suggestion to Platinum Industries shareholders post-listing, Arun Kejriwal, Founder of Kejriwal Research and Investment Services said, "The stock has listed in the Trade-to-Trade segment and it is expected to behave bearish in the upcoming session. The issue was small in size and its business model may not be an easy task for a normal retail investor to understand. So, the allottees should book profit and exit as they are still getting around 25 percent listing gain on the book build issue."

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, 12:58 PM IST
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