Ather Industries shares opened positive on BSE today Continued to move up to intraday high of 706.15 level and K 776.75 each level, about 20 percent above its upper price band 642 per equity share, reached upper circuit level on the first day. Specialty Chemical stocks listed on NSE 704 per share.
According to stock market experts, the share price of Ather Industries has strong support at Can continue to hold stock for short term target of 720 and allottee 844 level.
to speak on Ather Industries Share Price Outlook, Santosh Meena, Head of Research, Swastika Investmart said, “The good listing of the company can be attributed to the improving market sentiment, excellent growth prospects of the company and good response from investors. The issue was priced at P/E. Annual Finance of 72.30 based on data for Year 22. However, we believe that the company deserves this premium multiplier due to its phenomenal growth prospects.”
The company is one of the fastest growing specialty chemical companies in India, with high focus on DR & D, relying on differentiated chemistry and technical core competencies and a robust product selection process. According to analysts, the Indian chemical industry is witnessing structural changes due to shift of manufacturing activities from China to India and focus on green chemistry.
to advise Ather Industries Shares Ravi Singhal, Vice Chairman, GCL Securities, said, “In order to keep the stock ahead, allottees are advised to hold the stock with a stop loss, after a strong opening. 720 for the immediate short term target of 844. Those who missed out on getting the shares of Ather Industries during the allotment process can enter into approx. 750 level for short term target of Keeping stop loss at 844 720 per share level.”
Describing the shares of Ather Industries as portfolio stock, Santosh Meena, Swastika Investmart said, “New investors can buy for long term and existing investors are advised to stay invested in the company.”
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.