Motisons Jewellers share price makes a strong debut, should buy, sell or hold the stock?
Motisons Jewellers share price made a stellar debut on the bourses today. On Motisons Jewellers share price today was listed at ₹109 per share, 98.18% higher than the issue price of ₹55. On the BSE, Motisons Jewellers shares were listed at ₹103.90 apiece.
Post a robust listing, Motisons Jewellers share price was locked in 5% lower on NSE. At 11:21 IST, Motisons shares were trading at ₹103.55 on NSE, and ₹102.20 on BSE.
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Even though Motisons Jewellers share price opened increased of ₹54, according to Arun Kejriwal, founder of Kejriwal Research and Investment Services, the company has underperformed and is far below the Motisons Jewellers IPO grey martket premium, which was ₹70.
Now it has hit the lower circuit of ₹103.55, with a premium of just about ₹48.55. On the BSE, it is trading around ₹100, which means the premium is down to ₹45. If you are holding the shares, you could sell and exit, as this will continue to trade in trade-to-trade segments for the next nine sessions, he advised. A crore shares have been traded across both exchanges as of right now, and the volume is increasing slowly.
Motisons Jewellers share price outlook
Mahesh M Ojha, Hensex Securities Pvt Ltd’s AVP of Research and Business Development, stated that when Motison Jewellers IPO made its debut, it promised investors amazing returns of 87%. With four stores, the company is a major player in the retail jewellery market in Jaipur, Rajasthan. With more than 3,000,00+ jewellery designs available in a variety of categories, including gold and diamond bracelets, necklaces, earrings, pendants, rings and chains, and silver items, the company offers a diversified product portfolio.
“It has marked consistent growth in its top line with fluctuating earnings. We suggest investor shall book atleast 50% profits on the listing day itself rest can be held for Long term investment,” said Ojha.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.
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Published: 26 Dec 2023, 11:42 AM IST
