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Business News/ Markets / Stock Markets/  TBO Tek share price dips after bumper debut. Should you buy in this correction?
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TBO Tek share price dips after bumper debut. Should you buy in this correction?

TBO Tek share price opened on NSE at ₹1426 apiece, delivering a bumper 55% listing gain to the lucky allottees

TBO Tek share price: After strong debut on Dalal Street, TBO Tek share price further ascended and touched an intraday high of ₹1455.95 on NSE. (Photo: Courtesy company website)Premium
TBO Tek share price: After strong debut on Dalal Street, TBO Tek share price further ascended and touched an intraday high of 1455.95 on NSE. (Photo: Courtesy company website)

TBO Tek share price listed on the Indian bourses at a bumper premium during Wednesday deals. TBO Tek share price opened on NSE at 1426 apiece, whereas it listed on BSE at 1380 apiece, delivering more than 50 percent listing gain to the lucky allottees. After listing at a bumper premium, TBO Tek share price further ascended and touched an intraday high of 1455.95 on NSE. However, profit-booking, which is the practice of selling securities to lock in gains after a rise in price, triggered at higher levels, and the stock retraced from the intraday high and touched an intraday low of 1275 apiece on NSE within a few hours of the share debut.

According to stock market experts, the newly listed TBO Tek shares were expected to generate a substantial listing gain. They said that those who applied for listing gain could book a profit and exit, whereas positional investors could still hold the scrip for the medium to long term, depending on their perspective.

Also Read: Aadhar Housing Finance share price jumps 8% after flat debut. Buy, sell or hold?

TBO Tek share price: Buy, sell or hold?

DK Mudaraddi, the research analyst at Stoxbox, advised positional investors to hold the scrip for more gains, instilling optimism: "Leveraging its capital-efficient business model, TBO Tek Ltd has consistently delivered strong returns on equity and assets, signalling operational excellence and financial prudence. The company's ability to maintain high growth and profitability, coupled with its fine-tuned business model, instils confidence in its long-term prospects. Hence, we advise investors who have received allotment to hold shares from a medium to long-term perspective, offering a hopeful outlook for potential gains."

Amit Goel, Co-Founder & Chief Global Strategist at Pace 360, said, "TBO Tek Ltd is one of the leading travel distribution platforms in the global travel and tourism industry, providing a wide range of offerings and operating in over 100 countries. The company experienced a setback in FY21 following the pandemic but has been back on track since FY22, posting growth in its top and bottom lines. The tourism segment is poised for bright prospects, as recent trends indicate. Considering the potential ahead, investors may park funds for medium to long-term rewards."

On a suggestion to the allottees who applied for listing gains, Prashanth Tapse, Senior VP—Research at Mehta Equities, said, "Despite muted market sentiments, TBO Tek listed in line with our expectations.Considering the ongoing market mood, we continue to hold our view and recommend allocated TBO Tek investors book profits on listing day."

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.

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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: 15 May 2024, 12:46 PM IST
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