Tata Technologies share price gains after giving multibagger return to allottees. Buy, sell or hold? | Mint
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Business News/ Markets / Stock Markets/  Tata Technologies share price gains after giving multibagger return to allottees. Buy, sell or hold?
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Tata Technologies share price gains after giving multibagger return to allottees. Buy, sell or hold?

Tata Technologies share price listed on NSE at ₹1200 and went on to hit intraday high of ₹1400 per share levels within few minustes of listing

Tata Technologies IPO allottees can hold the scrip maintaining trailing stop loss at ₹1299 and try to take advantage of post-listing euphoria, say experts. (Photo: Courtesy BSE 'X' channel)Premium
Tata Technologies IPO allottees can hold the scrip maintaining trailing stop loss at 1299 and try to take advantage of post-listing euphoria, say experts. (Photo: Courtesy BSE 'X' channel)

Tata Technologies IPO listed at whopping 140 per cent premium on Indian bourses during special pre-open session on Thursday. However, after giving multibagger return to the lucky allottees, Tata Technologies share price extended its gains further and touched 1400 apiece levels on NSE, delivering 180 per cent listing premium to those allottees who remained invested in the stock despite stellar listing gain from the multibagger IPO.

According to stock market experts, demand for Tata Technologies share price is still intact as it has registered arond 3.3 crore trade volume within an hour of listing on NSE. They said that allottees who have invested in Tata Technologies IPO can book profit and exit whereas a cautious investor can wait for more gains maintaining trailing stop loss at 1299 apiece levels that should trigger till 1290 levels. But, for those who invested for long term, this is an ideal stock to keep in one's portfolio. For those, who missed to get Tata Technologies share via allotment process, they should wait for few sessions and enter once the stock settles after listing euphoria.

Suggestion to Tata Technologies IPO allottees

Speaking on Tata Technologies IPO listing, Prashanth Tapse, Senior VP — Research at Mehta Equities said, "As expected a bumper listing above our expectation respecting the legacy of TATA brand. After witnessing a remarkable subscription demand. Tata Technologies IPO garnered significant attention in the stock market among the 5 IPOs. Considering overwhelming investors demand along with investors friendly pricing indicating Tata Group legacy to reward shareholders."

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On what next after strong share listing, Mehta Equities expert said, "Given the growth potential in outsourcing, the business model would be in great demand going forward and considering all factors, we recommend allotted investors to book 50 per cent profits over and above 1400 and retain rest of the holding for long term considering healthy long term returns post listing and for those investors who failed to get allotments in the public offer can accumulate Tata Technologies on every dips post listing for long term."

Tata Technologies share price outlook

On advise to allottees after strong listing premium, Arun Kejriwal, Founder at Kejriwal Research and Investment Services said, "Those who applied for listing gain only, they should book profit and exit. But, those who want to take advantage of posti-listing euphoria around Tata Technologies shares, they are advised to maintain trailing stop loss at 1299 apiece levels, which must trigger till 1290 per share levels. But, for a long term investor, this is an ideal portfolio stock and one should accumulate on every big dip of 5-7 per cent."

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On suggestion to those who missed to get Tata Technologies shares via allotment process, Arun Kejriwal said, "Fresh entry is not advised in the stock in current scenario. One should wait for the stock to settle down once the post-listing euphoria ends."

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 decision.

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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. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
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Published: 30 Nov 2023, 11:37 AM IST
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