Senores Pharmaceuticals share price dips over 6% after strong debut in Indian stock market. Buy, sell or hold?

Stock market today: As expected by stock market experts, Senores Pharmaceuticals' share price is listed in the Indian stock market at a stellar premium of over 50 per cent. However, the newly-listed stock failed to sustain itself at higher levels, slipped below its listing price, and hit an intraday low of ₹552 apiece on the NSE. Senores Pharmaceuticals' share price is currently trading at around ₹560 apiece, which is nearly 6.50 per cent lower than the listing price. Interestingly, the stock trades below its weighted average of ₹588 on the NSE.

According to stock market experts, those applying for listing gains should only book profit and exit. However, this is an opportunity for medium — to long-term investors to accumulate more. Experts said that the company's fundamentals are strong, and its robust R&D is expected to enable it to maintain its leadership position in the market.

Senores Pharmaceuticals share price outlook

On a suggestion to short-term investors regarding Senores Pharmaceuticals' share price, Arun Kejriwal, Founder of Kejriwal Research and Investment Services, said, "Senores Pharmaceuticals shares were offered at higher valuations, and the current fall post-listing is a glaring example of it. The newly listed stock trades below its weighted average of ₹588, which signals more pain in the near term. So, those who have applied for the listing gain can book profit and exit the stock at the current market price."

On the suggestion to medium to long-term investors, Prathamesh Masdekar, Research Analyst at StoxBox, said, "The company is an R&D-driven company with a differentiated product portfolio across dosage forms, which has enabled the company to reach a range of target markets with a presence in the US, Canada and emerging markets. Senores Pharmaceuticals partners with many CDMO customers early in the drug development, enabling them to expand relationships as molecules progress through the clinical phase and into commercial manufacturing. This results in sustained relationships with customers and a recurring revenue stream."

"Senores Pharmaceuticals' financial performance is driven by leveraging its leadership position in key therapeutic areas, established presence in regulated markets, inorganic growth through synergistic acquisitions, niche product portfolios built in a short span in emerging markets, and robust R&D capabilities, all of which have supported strong growth. Therefore, we recommend that investors allotted shares hold their positions from a medium to long-term perspective," the StoxBox expert said.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.