Azad Engineering share price jumps after strong debut. Buy, sell or hold?
Azad Engineering share price listed on BSE and NSE during Thursday deals at a whopping premium of over 37 per cent. On BSE, Azad Engineering shares listed at ₹710 apiece levels whereas on NSE the scrip listed at ₹720 apiece levels. After some profit booking, Azad Engineering share made its intraday low of ₹701 per share on both exchanges. But, it witnessed buying interest at lower levels and touched intraday high of ₹727 on NSE and ₹727.50 apiece on BSE.
According to stock market experts, Azad Engineering shares are expected to command higher valuation muiltiple and its life critical products are expected to remain in demand. So, those who have long term view they can hold the stock for more upside whereas short term investors can book profit and exit as they are already getting around 40 per cent return on their money.
Also Read: RVNL, IRFC to RailTel: These 5 multibagger railway stocks rise up to 300% in 2023
Azad Engineering share price outlook
Speaking on Azad Engineering share price outlook, Prashant Tapse, Senior VP — Research at Mehta Equities said, “Despite valuations were bit expensive but given the niche product profile with mission and life critical components demand along with ~80% export revenue and superior margin profile, Azad would command a higher valuation multiple. Hence, considering all the parameters, we are recommending allotted investors to “HOLD” for the long term. For non allottees one can wait and watch for any dips post listing to accumulate and look to hold for long term like 3-5 years time horizon.”
Also Read: Firstcry’s parent Brainbees Solutions files IPO papers with Sebi
On suggestion to lucky allottes of Azad Engineering shares, Arun Kejriwal, Founder at Kejriwal Research and Investment Services said, “Those who have applied for short term gains can book profit and exit as they are already getting to the tune of 40 per cent return on their investment. However, if someone wants to hold this scrip, they are advised to maintain stop loss below today’s low of ₹701 apiece levels. There can be some near term upside in the stock once it breaches its today’s high of ₹727 per share.”
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.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away! Login Now!
Download The Mint News App to get Daily Market Updates.
Published: 28 Dec 2023, 11:43 AM IST
