New Delhi: Stock market experts have advised Ixigo IPO allottees to book profit on the stock after it listed at nearly 45 per cent premium on Tuesday, June 18, 2024. In an exclusive interview on Money9, Mantri Finmart, founder, Arun Mantri and Profitmart Securities, Head Research, Avinash Gorakshakar told Ixigo IPO allottees to book profits after the stock ended the listing day with a huge premium of over 78 per cent against the IPO issue price of Rs 93.
Book Profit in Ixigo: Expert
Mantri explained his stand by saying, “Investors should book profit in the stock. They stand at nearly 70 per cent gains currently. Better to book profits on listing gains.” In an earlier interaction with Money9, Gorakshakar had also said that if the stock doubles on listing day then IPO allottees must book profits.
What should be Ixigo’s entry price as per technical charts?
Mantri explained, “Generally, after listing, share prices dip giving opportunity for investors to buy the counter.” Mantri believes the stock can fall from current levels. The correct price level to enter the stock from the technical point of view would be Rs 140 apiece.
According to Mantri, long term investors who got share allotment in the Ixigo IPO can keep the stock in their portfolio.
Ixigo IPO listing gains
Shares of Le Travenues Technology Ltd, the company which owns Ixigo, on Tuesday started the trade at Rs 135, rallying 45.16 per cent from the issue price on the BSE. Later, it zoomed 74.18 per cent to settle at Rs 161.99. At the NSE, it listed at Rs 138.10, up 48.49 per cent. The stock ended at Rs 165.72, skyrocketing 78.19 per cent.
The company’s market valuation stood at Rs 6,275.87 crore. In traded volume terms, 76.43 lakh shares of the company were traded at the BSE and 964.60 lakh shares on the NSE during the day.
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Shares of Le Travenues Technology Ltd, the company which owns ixigo, on Tuesday ended with a huge premium of over 78 per cent at Rs 161.99 on the BSE against IPO issue price of Rs 93. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
