Hariom Pipes Industries Shares made a dream debut on Dalal Street today as Hari Om Pipes share price opened today on BSE 214 at each level while on NSE it opened at 220 per share level, provides around 44 per cent premium to the allottees. However, stock market experts are still bullish over the counter as the stock has witnessed strong appetite from both retail and anchor investors.
Stock market experts say that allottees should book 50 per cent profit and stay invested in the stock for a target of 6 months Maintaining stop loss at 320 per share level 197 each level. For those who missed to get Hariom Pipe Share During the allotment, he advised them to buy at the current level for the target of one month maintain stop loss at 270 212.
However, for new investors, he advised them to buy with 50 per cent surplus while maintaining the stop loss 212. If the stock rises, such investors are advised to book profits 270 levels. However, if it falls and comes closer 212 or less 220, then new investors should deposit with the remaining 50 percent of the amount while maintaining the stop loss 197 levels.
Speaking on the share price listing of Hariom PIpes; Ravi Singhal, Vice Chairman, GCL Securities said, “Since the public issue is open at around 44 per cent premium, allottees are advised to book 50 per cent profit and withdraw their principal amount invested in the IPO. They can put the rest at 6 per cent. can keep for the month target maintain stop loss at 320 197 per share level.”
On how to maximize your Hariom Pipes IPO listing profits; Santosh Meena, Head of Research, Swastika Investmart Limited said, “Hariom Pipes Limited forays into the secondary market. 220 with a handsome mileage. The good listing of the company can be attributed to good market sentiments and good prospects for the steel pipes industry. The company has an integrated nature of operations, a cost effective process and an experienced management team. However, the cyclical nature of the industry and the commoditized nature of the products make it only suitable for investors who are aggressive over the long term. Those who applied for listing gain can maintain a stop loss of 195 and book profit is increasing.”
For those who missed out on getting the shares of Hariom Pipes during the allotment; Ravi Singhal of GCL Securities said, “Hariom Pipes share price is currently in range 212 to 270. Those looking to buy this stock are advised to utilize 50% of their surplus amount and buy the shares of Hariom Pipes at current levels while maintaining stop loss. 212 levels. if it comes down to approx 212 or less 220, then they should deposit the stock with the remaining 50% of the amount while maintaining the stop loss 197 per share level for 6 month target 320 levels. However, if the stock rises and closes 270, they are advised to book profits.”
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.