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Tega Industries share price: Should you buy, sell or hold after strong debut?

Tega Industries is trading at a valuation, which is at par with its global peers. However, its growth rate is much better than its global peers, believe stock market experts. Photo: Courtesy Tega Industries websitePremium
Tega Industries is trading at a valuation, which is at par with its global peers. However, its growth rate is much better than its global peers, believe stock market experts. Photo: Courtesy Tega Industries website

  • Tega Industries share price: According to stock market experts, those who applied for the public issue for long-term should hold the stock whereas those who applied for listing gain should book 60 per cent profit

Tega Industries shares today made a blockbuster debut on Dalal Street delivering around 300 per share listing gain to the allottees. Currently, Tega Industries share price on NSE is 730 per share, around 60 per cent higher from its upper price band of 453 per equity share. According to stock market experts, those who applied for the public issue for long-term should hold the stock whereas those who applied for listing gain should book 60 per cent profit and hold the rest maintaining trailing stop loss at 680 levels. They went on to add that positional investors can buy at current levels for 3-6 month target of 840.

Speaking on Tega Industries share price outlook; Ravi Singhal, Vice Chairman at GCL Securities said, "Long-term investors can hold Tega Industries shares whereas those who applied for the IPO keeping short-term perspective, they can book 60 per cent profit and keep the rest 40 per cent maintaining trailing stop loss at 680 levels. Those who missed to get Tega Industries shares during allotment process are advised to buy at current levels for 3-6 month target of 840 keeping stop loss at 680 per share levels."

Echoing with Ravi Singhal's views; Parth Nyati, Founder, Tradingo said, "Kolkata-based company with strong management and sound fundamentals went public today. A massive response from investors triggered the IPO to be subscribed 219 times. The IPO was purely OFS based where its PE fund is exiting, but the company is cash-rich. Initially priced at 453 each, the issue gained 66 per cent and was listed at 760. The company might perform much better going forward if this momentum continues. New investors can wait for a dip to buy, while long-term investors should hold this stock. Those who have received the allotment should keep a stop loss of 690."

Highlighting the reason for being bullish on Tega Industries share price outlook, Ravi Singhal of GCL Securities said, "Tega Industries is trading at a valuation which is at par with its global peers. However, its growth rate is much better than its global peers. So, the company is expected to give better quarterly numbers in next two quarters of FY22."

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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Asit Manohar

Chief Content Producer at Live Mint Digital Team
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