Prudential Corporate Share Listing: After debuting at a premium of around 3 per cent today, Prudent Corporate shares started heavy profit-booking. after opening 660 on BSE, Prudent Corporate share price fell sharply and hit intraday low 591.20 on BSE. According to stock market experts, those who have booked profit in the pre-opening session are advised not to enter at the current levels, while those still holding the stock should maintain the stop loss. 545 on closing basis and exit on bounce.
to speak on Prudential Corporate Share Price ApproachRavi Singhal, Vice Chairman, GCL Securities, said, “Prudent Corporate shares have witnessed sharp profit-booking and the stock continues to fall after listing at around 3 per cent premium. Since the public issue was slightly higher in valuation, who had booked earlier. -Profit in the opening session is advised to avoid taking any new positions in the counter while those who still hold the stock should maintain the stop loss Based on closing the 545 level and try to exit on any strong rebound from the lower levels.” Ravi Singhal of GCL Securities Said fresh buy is justified only if stock gives breakout above Based on 660 completion.
Santosh Meena, Head of Research, Swastika Investmart Ltd., on suggestions from long-term shareholders, Santosh Meena, Swastika Investmart Ltd. said, “Prudent Corporate Ltd. has debuted at Rs.650 or 3.2 per cent above its issue price. The company may have a sluggish listing. This can be attributed to the rich pricing of the issue and the competitive and regulated nature of the industry. The company operates in a less Indian asset management industry and has a consistent track of profitable growth due to highly scalable, asset-light and liquidity The record is there. Generative business model. We suggest long-term investors accumulate this stock on a gradual decline.”
Advising Prudent corporate shareholders to hold the counter for the long term, Mohit Nigam, Head of PMS, Hem Securities said, “Due to volatile market conditions, Prudent Corporate Advisory Services Ltd. received a tepid response from investors. The company is a less Indian. Is operating in the asset management industry with a CAGR of over 20 per cent and a pan-India diversified distribution network with the potential to expand into underserved B-30 markets. Highly scalable, asset-light and cash-generating business Owing to the strategy, the company has displayed a consistent track record of profitable expansion. As a result, we recommend holding the stock for a long term.”
Shares of Prudent Corporate Advisory Services were listed on NSE and BSE today. Prudent Corporate Shares opens on NSE 650 per share level while on BSE it is listed at 660 each level. Retail wealth management services company raised slightly higher 159 crore from anchor investors before its share sale.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.