Sapphire Foods shares list at premium. Should you buy, sell or hold?1 min read . Updated: 18 Nov 2021, 10:57 AM IST
- Sapphire Foods shares listed on NSE at ₹1350 against its upper price band of ₹1180, logging around 14.4 per cent listing gain
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Sapphire Foods share price made a moderate debut at Indian bourses as the issue price listed on NSE at ₹1350 against its upper price band of ₹1180, logging around 14.4 per cent listing gain. According to stock market experts those who got Sapphire Foods shares through allotment should book profit now while aggressive investors can hold the counter for near short-term target of ₹1500 per share levels.
Speaking on Sapphire Foods share listing and its outlook; Santosh Meena, Head of Research at Swastika Investmart Ltd said, "Sapphire Foods IPO was listed with moderate gain in line with our expectations. Sapphire Food is a loss-making company; however, we have seen successful companies in the market from similar spaces. If we talk about the valuations then it is coming out with 7xFY21 sales while recently listed Devyani International is trading at 14xFY21. Therefore, it is coming out with attractive valuations compared to its peers and it has strong brand names under its umbrella. Aggressive investors can hold this stock for the long term as the business outlook is encouraging while short-term traders can keep a stop loss of 1100 for the near term target of ₹1500."
Advising normal investors to book profit with available listing gain; Ravi Singhal, Vice Chairman at GCL Securities said, "Sapphire Foods is a loss-making company and hence my suggestion to those who got Sapphire Foods shares via allotment process should book profit now. However, for those who missed to get Sapphire Foods shares through allotment, my suggestion is to avoid fresh entry in the counter and look at other option."
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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