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Business News/ Markets / Stock Markets/  Yatharth Hospital share price gains after dismal listing. Buy, sell or hold?
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Yatharth Hospital share price gains after dismal listing. Buy, sell or hold?

Yatharth Hospital share price opened at ₹304 on BSE and went on to hit intraday high of ₹342.70 apiece levels, logging over 10 per cent gain against the upper price band of the IPO

Yatharth Hospital share price may go up to ₹380 apiece levels, once there is trend reversal on Dalal Street, believe stock market experts. (Photo: Courtesy Yatharth Hospital website)Premium
Yatharth Hospital share price may go up to 380 apiece levels, once there is trend reversal on Dalal Street, believe stock market experts. (Photo: Courtesy Yatharth Hospital website)

Yatharth Hospital share price opened on BSE at 304 apiece whereas it listed on NSE at 306.10 per share levels. However, after dismal listing on Indian bourses, Yatharth Hospital shares gained momentum as it managed to attract stock market bulls who were looking for value picks. They said that fundamentals of Yatharth Hospital shares are quite strong and this par listing should be seen as an impact of tepid sentiments on Dalal Street. They advised allottees to hold the stock further for near term target of 380. Stock market experts went on to add that fresh investment can be done if the stock comes around 315 per share levels.

Reason for dismal listing of Yatharth Hospital shares

On why Yatharth Hospital share price opened at such a lower levels, Anubhuti Mishra, Equity Research Analyst at Swastika Investmart said, "The ongoing volatility in the secondary market has also impacted fresh listings, with Yatharth Hospital's IPO listing on the stock exchanges today at 306 per share, a premium of only around 2 per cent over the upper end of the price band of 300. This is well below expectations, given the strong subscription rate that the IPO received earlier. However, the current market uncertainty is likely to blame for the muted response from investors."

On her advice to the shareholders of this Noida-based hospital, Vaibhav Kaushik said, "Those who applied for the stock for listing gains only, they are advised to exit at current levels as it is quoting near 10 per cent higher from upper price band of the IPO. However, those who have a long view, I would advise them to hold the stock for near term target of 380 apiece levels." Vaibhav Kaushik advised strict stop loss of 300 for those who want to hold the scrip.

On suggestion to those who missed to get Yatharth Hospital shares during allotment process, Vaibhav Kaushik said, "Fresh entry is advised only around 315. If the stock falls around 315 apiece levels, then one can buy this scrip for near term target of 380 maintaining stop loss at 300 apiece levels."

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 decisions.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
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Published: 07 Aug 2023, 12:02 PM IST
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