The shares of BillionBrains Garage Ventures Limited, the parent company of the online stock investment platform, were listed on November 12, after which a tremendous rise was seen in the shares of this company. This stock made investors rich within 5 trading days. It had jumped 90 percent from its IPO price, but today the stock has hit a lower circuit of 10 percent.
Shares of BillionBrains Garage Ventures Ltd fell 10 per cent to close at Rs 169.94 on Wednesday. However, currently this share is 69.94 percent above its IPO price of Rs 100. Experts have advised to sell this stock and said that this stock may fall further.
BillionBrains Garage’s Rs 6,632.30 crore IPO was open for subscription from November 4 to November 7. The issue included fresh share sale of Rs 1,060 crore and offer for sale (OFS) of 55,72,30,051 equity shares. The listing of this IPO took place on 12 November.
What is the expert opinion on Groww?
Market expert Kranthi Bathini, director of equity strategy at Wealthmills Securities, said that the current valuation of Groww is very high. He said that from a short-term to medium-term perspective, Groww’s valuations appear elevated. As a digital investment platform, it has made a significant impact in the financial services sector. Investors should keep an eye on the company’s earnings in the next few quarters. IPO investors may consider making some profits at current levels.
This share may fall to Rs 120
Ravi Singh, Chief Research Officer, MasterTrust said that the stock is not looking good on the charts and it may fall to Rs 120 level. He suggested that investors should consider exiting at the current level.
Estimated to fall to Rs 133
SEBI registered expert AR Ramachandran has also advised investors to book profits and said that there is a possibility of improvement in the price up to Rs 133. Let us tell you that the company listed on November 12 will announce its September quarter results on November 21, after which a new perspective may come on this stock.
(Note- The targets mentioned here are the experts’ own views. aajtak.in does not take any responsibility for it. Before investing in any share, please take the help of your financial advisor.)
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