Oswal Pumps shares were launched on the markets on Friday after the offering received a huge amount of subscriptions. Because of the company’s position in important structural growth sectors, experts advise keeping the stock for the long run.
Oswal Pumps IPO Listing Gains: Is It Time to Book Profits or Stay Invested?
On Friday, June 20, Oswal Pumps shares had a quiet debut on the stock market, listing on the National Stock Exchange (NSE) at a premium of 3%. Between June 13 and 17, 34.42 subscriptions were made to the Rs 1,387.34-crore offering in the main market.
Oswal Pumps’ shares were offered on the NSE for Rs 634 each, which was 3.26 percent more than the company’s initial public offering price. The price range for the offering was Rs 584-614 per share.
The company’s shares were floated at a premium of 2.93 percent, at Rs 632 each, on the BSE. After the shares were listed, the company’s entire market value was Rs 7,203.37 crore.
According to Hensex Securities’ AVP of Research and Business Development, Mahesh M. Ojha, “Long-term investors may consider holding the stock given its scale, market share, and alignment with India’s renewable energy and agri-infrastructure goals.” “If the stock opens above Rs 675, investors who entered the issue for listing gains may consider partial profit booking,” he noted, adding that it might be advantageous to keep some exposure in the event of a possible re-rating.
Citing potential initial selling pressure as well as general market volatility, he counseled prospective investors to hold off until price stability after listing.
Given the company’s presence in important structural growth sectors, Mehta Equities Research Analyst Prashanth Tapse recommended that potential investors stick onto the stock for the long run. “Non-allotted investors may consider accumulating on dips post-listing, especially in case of short-term market weakness,” he stated.
Experts predict a 10-15% listing gain for Oswal Pumps shares, which will float on Friday.
Oswal Pumps began producing low-speed monoblock pumps in 2003 and has since grown to include electric motors and grid-connected submersible pumps.
Disclaimer: Business connect experts’ opinions and financial advice are their own and do not represent the opinions of the website or its administrators. Before making any investing decisions, businessconnectindia.in recommends customers to consult with qualified professionals.
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