Jupiter Hospital Shares Shine on Debut, but Caution Prevails

Jupiter Hospital Shares Shine on Debut, but Caution Prevails

VoM News Desk | September 18, 2023 | 09:48 AM IST | Breaking News | Follow on Google News

Jupiter Hospital Shares Shine on Debut, but Caution Prevails

Jupiter Hospital made a remarkable stock market debut, listing at ₹960 per share on the Bombay Stock Exchange (BSE) and ₹973 per share on the National Stock Exchange (NSE). This debut delivered a substantial gain of over 32% to the fortunate allottees. However, the stock didn’t stop there, quickly surging to four-digit figures during a special pre-open session. It reached an intraday high of ₹1,062.40 on NSE and ₹1,061.85 on BSE, further igniting investor excitement.

Mixed Opinions and Caution from Experts

Market experts offer varying perspectives on Jupiter Hospital’s listing and future prospects. They note the extended bull trend in both the secondary and primary markets, cautioning that profit booking could occur at any time. As a result, short-term investors are advised to consider booking profits and exiting promptly. In contrast, high-risk investors are encouraged to hold the stock with a stop loss set at ₹990, targeting short-term gains of ₹1,100.

Arun Kejriwal, Founder at Kejriwal Research and Investment Services, recommends short-term investors to exit due to the prolonged bullish trend in both markets. He highlights the influence of Yatharth Hospital’s recent listing on the perceived pricing of Jupiter Hospital shares, suggesting the possibility of sharp declines when profit booking occurs.

Prashanth Tapse, Senior Vice President of Research at Mehta Equities, justifies Jupiter Hospital’s premium listing, citing strong demand in the healthcare sector and expansion plans in Western regions. He advises long-term allottees to hold the stock with a near-term target of ₹1,100 while maintaining a stop loss at ₹990.

For investors who acquired Jupiter Hospital shares after listing, Prashanth Tapse suggests holding the stock with a ₹990 stop loss and evaluating the investment once it reaches ₹1,100 per share.

Jupiter Lifeline Hospitals IPO in Brief

The Jupiter Lifeline Hospitals IPO included a fresh issue of 73.74 lakh shares, totaling ₹542 crore, and an offer for sale (OFS) portion consisting of 44.5 lakh shares of ₹10 each, aggregating ₹869.08 crore. These shares were sold by promoter selling shareholder Devang Vasantlal Gandhi and Neeta Gandhi. The total issue size of the IPO amounted to ₹869.08 crores.

Investors are reminded to exercise caution and conduct thorough research or seek advice from certified experts before making any investment decisions. The views expressed by individual analysts and broking companies are their own and do not represent the views of Mint.

VoM News Desk

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