Today’s stock market: Dalal Street’s Thursday trades saw a lacklustre opening for the share price of Mukka Proteins. The share price of Mukka Proteins began at ₹40 on the NSE, much below the anticipated listing range of ₹60 to ₹66 per equity share. The company today listed on the BSE for ₹44 apiece. However, Mukkar Proteins shares saw rapid post-listing selling, which only served to aggravate the grievances of share allottees. Mukka Proteins shares hit an intraday low of ₹38.24 each shortly after they were listed, while they hit an intraday low of ₹38.25 each on the NSE.
Stock market analysts claim that the share price of Mukka Proteins, which is listed on Indian exchanges, is less than what the market is expecting. On the listing date, the market was projecting that an allottee’s money would quadruple. They were shocked to learn that it listed for a premium of almost 40%. According to them, short-term investors who bought just for the purpose of listing gains can keep the scrip and depart when prices increase, while long-term investors should record a profit and leave.
The share price of Mukka Proteins, which is listed on Indian markets, is allegedly lower than what the market anticipated, according to stock market specialists. The market was predicting that an allottee’s money would treble on the listing day. They were taken aback to see that it was listed for an almost 40% premium. They say long-term investors should register a profit and walk away, while short-term investors who bought just to list profits can keep the scrip and leave when prices rise.
Recommended that long-term investors book a profit, “We believe that high entry barriers, consistent financial performance, and innovative products have helped the company successfully grow its business,” stated Dhruv Mudaraddi, Research Analyst at Stoxbox. As we move forward, Mukka Proteins Ltd. offers a compelling investment opportunity in the fish protein sector thanks to its robust market position, varied product line, and international reach. However, at this point in time, we urge investors to take profits upon listing and then think about buying the firm after assessing its short-term quarterly performance.”
Arun Kejriwal stated, “Since the stock has been listed in the trade-to-trade category, there can be sharp bounceback once the selling gets over.” He expressed expectation for a bounceback once the market calms down. As a result, those who applied for the shares only for listing gain may hold the scrip and sell it when the market recovers, keeping their stop-loss at ₹36.”
