The shares mentioned on RS 436 on the BSE, a modest premium of 3.07% compared to its IPO price of RS 423, and on RS 432 on the NSE, a premium of 2.13%.
However, the euphoria was short-lived when the stock to an intraday layer of RS 405.80 slid on the BSE, which marked a decrease of 6.9% of the list level.
The sharp reversal, despite the strong subscription numbers of the IPO, has had investors assessed whether this correction offers a buy option. Should investors now buy this dip in such a case?
According to Prashanth Tapse, Senior VP (research), Mehta shares, the Gedempte List of Seshaasai Technologies came as a surprise in view of the strong foundations, reasonable valuations and a robust question, in which the IPO is generally subscribed almost 70 times and Qibs is subscribed to almost 190 times.
He attributed the silly performance more to the prevailing market sentiment than to company -specific issues. Tapse said that he remains positive about the company’s long -term perspectives, stating the leading position in payments and communication solutions and a market share of 31.9% among payment card manufacturers in India. Tags, Seshaasai is well positioned for persistent growth.
He advised investors who have assigned shares to ‘holding’ and suggested that participants could look at the long-term collecting dips, because the company benefits considerably from India’s developing fintech and bfsi ecosystem.
Also read: After income tax and GST -Teweaks, Gurmeet Chadha Bats for the next big push – LTCG Cut
((Indemnification: Recommendations, suggestions, views and opinions of the experts are their own. These do not represent the views of economic times)
as a reliable and trusted news source#Seshaasai #Technologies #shares #slumps #list #investors #buy #dip