Ujjivan Small Finance Bank IPO makes bumper debut at BSE, NSE; Next step? 'Book Profit before Closing Bell', advise experts
Ujjivan Small Finance Bank BSE and Ujjivan Small Finance Bank NSE listing has been bumper but it may go the CSB Bank shares way after listing.
Much to the joy of its IPO investors, Ujjivan Small Finance Bank made a bumper opening on its debut at both BSE and NSE today with the share price skyrocketing immediately. Ujjivan IPO after getting the bumper subscription of over 165 times, the share price was trading at Rs 54.85 per share at 12:12 PM. Ujjivan SFB stock after listing at around 60 per cent higher than its issue price of Rs 36-37 per share made a high of Rs 62.80 while its low was at Rs 53.10 per stocks. Ujjivan share price listed at Rs 58 on BSE and Rs 58.75 on NSE. According to the stock market experts, one should book profit before the stock market Closing Bell as there can be 15-20 per cent further correction in the Ujjivan SFB shares.
See Zee Business tweet on Ujjivan Small Finance Bank IPO listing below:
— Zee Business (@ZeeBusiness) December 12, 2019
Speaking on the Ujjivan Small Finance Bank share price, Prakash Pandey, MD & CEO at Plutus Advisors said, "Ujjivan Small Finance Bank BSE and Ujjivan Small Finance Bank NSE listing has been bumper but it may go the same way as the CSB Bank share price did after its listing. Today's close of the Ujjivan Small Finance Bank share price might be the upper range for the Ujjivan SFB shares in the coming fortnight means the Ujjivan SFB share price may become a range-bound share from Rs 36 to today's closing. From today's closing in the Ujjivan SFB shares, I am expecting further 15 to 20 per cent correction as we witnessed in the CSB Bank IPO which has done the same after its listing."
See Zee Business Live TV streaming below:
Pandey advised stock market investors, who got Ujjivan SFB shares in the Ujjivan Small Finance Bank IPO allotment, to book profit today and re-enter once again after it corrects around 15-20 per cent due to the profit-booking.
On the suggestion to those who are not jobbers, Sumeet Bagadia, Executive Director at Choice Broking said, "In my opinion, those who got Ujjivan SFB shares during the Ujjivan Small Finance Bank IPO allotment should come out of it as there can be profit-booking getting triggered in the coming trade sessions. I would suggest market investors re-enter into the Ujjivan SFB shares at around Rs 44-45 levels and then hold it for the next six months to one year."
On his expectations in regard to the Ujjivan Small Finance Bank shares in the above mentioned time horizon, Bagadia said that the Ujjivan SGB share may hit the double-digit if the market continues to behave the same way it has been behaving for the last few months.