Rashi Peripherals Share Price Makes Lukewarm Debut

Rashi Peripherals Share Price Makes Lukewarm Debut

VoM News Desk | February 14, 2024 | 11:00 AM IST | Breaking News | Follow on Google News

Rashi Peripherals Share Price Makes Lukewarm Debut/Website @rptechindia

Rashi Peripherals Share Price Makes Lukewarm Debut

Rashi Peripherals share price experienced a lukewarm debut on the bourses, listing at ₹339.50 per share on NSE, reflecting a 9.16% increase over the issue price of ₹311. On BSE, the listing was at ₹335 apiece, marking a 7.72% rise.

Post-Listing Performance

While Rashi Peripherals share price initially slipped into the red zone, it later gained traction. As of the latest update, it was trading more than 4% higher at ₹324.05 on NSE and down 2.70% on BSE at ₹325.95 apiece.

Grey Market Premium and Listing Estimates

Industry insiders predicted an IPO listing for Rashi Peripherals between ₹370 and ₹380, with a 20% gain. The grey market premium (GMP) suggested a sober listing, with GMP at +34. The estimated listing price was indicated at ₹345 apiece, reflecting a 10.93% increase over the IPO price.

Analyst Outlook

Analysts noted Rashi Peripherals’ strong performance for FY21 and FY22 due to increased product demand. Although FY23 witnessed higher topline, lower bottom lines were reported due to reduced margins post-pandemic euphoria. H1-FY24 performance indicates a restoration of trends, and the company aims to maintain earning trends, making it an attractive medium to long-term investment.

Investor Recommendations

Experts suggest investors book at least 50% profits on the listing day and consider keeping the rest for long-term investment. Rashi Peripherals, with a pan-India presence, multi-channel distribution footprint, and strong relationships with global technology brands, positions itself as a leading Indian distribution partner for ICT products.

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.