Netweb Technologies Shares Make Dazzling Debut on Dalal Street: Should You Sell or Hold?
Netweb Technologies, a high-end computing solutions (HCS) provider, recently made a remarkable entry into the stock market with a listing price of Rs 947 on the National Stock Exchange (NSE), a premium of 90% over its issue price of Rs 500. As the stock witnessed some profit booking during its maiden trading session, investors are now faced with the decision of whether to sell or hold their shares. Let’s delve into the experts’ opinions to help you make an informed choice.
Netweb Technologies’ Impressive Debut:
On its listing day, Netweb Technologies shares surged at an astounding premium of 90%, generating a buzz at Dalal Street. The stock opened at Rs 947 on the NSE and Rs 942.50 on the BSE, drawing substantial interest from investors. Despite experiencing some profit booking during its debut session, the stock eventually found support around the Rs 930-935 range.
Expert Recommendations for Investors:
Analysts advise investors to exercise caution and consider partial profit booking to safeguard their wealth. Mahesh M Ojha, AVP of Research and Business Development at Hensex Securities, suggests booking at least 50% of the shares on the listing day itself while holding the remaining portion for medium to long-term investment. With the company exhibiting strong business prospects and operating in a technologically advanced industry with high entry barriers, holding a portion for the long run could prove beneficial.
Netweb Technologies’ Robust IPO Response:
The initial public offering (IPO) of Netweb Technologies, valued at Rs 631 crore, received a robust response from investors. Its niche business model, coupled with being a leading HCS provider in India, garnered great faith among investors. The IPO was oversubscribed 90.55 times, with qualified institutional bidders (QIBs) leading the way, subscribing 220.69 times, the highest in this category in the last decade. Non-institutional bidders (NIIs), retail investors, and employees also showed significant interest, subscribing 83.21 times, 19.48 times, and 55.92 times, respectively.
Hold or Sell: Expert Opinions:
Considering the strong listing and the company’s track record of growth and financial performance, Swastika Investmart’s Equity Research Analyst, Anubhuti Mishra, suggests holding the shares for now with a stop-loss at around Rs 850. For aggressive investors, purchasing during subsequent dips might present a favorable opportunity.
https://www.youtube.com/watch?v=5xTM6t_USjw
Netweb Technologies: Business Overview:
Established in 1999, Netweb Technologies specializes in providing high-end computing solutions (HCS). Its offerings include high-performance computing (supercomputing/HPC) systems, private cloud, hyper-converged infrastructure (HCI), AI systems, enterprise workstations, high-performance storage solutions, data center servers, software, and services.
You can also read about TATA DVR Shares.
Conclusion:
Netweb Technologies’ impressive debut on Dalal Street has ignited investor interest, leading to speculation on whether to sell or hold the shares. Experts advise booking partial profits to secure wealth while holding a portion for long-term gains, considering the company’s strong business prospects. As the stock continues to garner attention, investors must make well-informed decisions based on their risk appetite and investment goals.
You can join our TELEGRAM COMMUNITY