HMA Agro Industries shares listed on BSE at ₹615 per share whereas it listed on NSE at ₹625 apiece, delivering around 7 per cent listing gain to the allottees on HMA Agro IPO listing. However, the frozen meat exporter company’s stock ascended further after positive listing and went on to hit intraday high of ₹670.45 on BSE and ₹667 on NSE, doubling the listing gain to the tune of near 14.50 per cent against the upper price band of ₹585 per share.
According to stock market experts, those who have invested in the stock for short term, they are advised to book profit and exit whereas those who have a little long view, they are advised to maintain stop loss at ₹590 and hold the stock till June 2023 quarter results of the company is announced. They said that company is in frozen buffalo meat export business and they are market leaders in India. So, they have limited competition and any positive in the Q1FY24 may spark fresh rally in the scrip and in that case it may go up to ₹750 apiece levels in next one to two months after the announcement of results.
On what next after positive listing, Vaibhav Kaushik, Research Analyst at GCL Broking said, “Company has arbitration challenges and some challenges on the corporate governance as well. But, it managed to give return on the listing date and my advice to investors is to book profit and exit on any rise. They can maintain a stop loss at ₹590 and exit once there is any bounce in the stock.”
Unveiling investment strategy after HMA Agro share listing, Avinash Gorakshkar, Head of Research at Profitmart Securities said, “Those who have short term view, they are advised to book profit and exit as stock is expected to remain sideways till its quarterly results are announced. However, for those who have a little higher than short term view and they are ready to take some risk, they are advised to hold the stock till company’s first quarter results for the current fiscal is announced.”
Avinash Gorakshkar said that HMA Agro Industries is in frozen buffalo meat export business and it is one of the leading meat exporters in India. So, the company has limited competition in their business and hence the company is expected to announce positive numbers in upcoming quarterly business. So, one should hold the stock for at least announcement of Q1FY24 results if they have a little higher than the short term time horizon.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
Know your inner investor
Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
Download The Mint News App to get Daily Market Updates.
Updated: 04 Jul 2023, 11:20 AM IST