Oswal Pumps shares settled at Rs 624 per share on the NSE, up 1.63 percent from its issue price. The stock had made a muted stock market debut on Friday, June 20, listing with a premium of 3 percent on the National Stock Exchange (NSE). The Rs 1,387.34-crore issue was subscribed 34.42 times between June 13-17 in the primary market.
Shares of Oswal Pumps were listed at Rs 634 per share on the NSE, a premium of 3.26 percent over its IPO price. The issue had a price band of Rs 584-614 per share.
On the BSE, the shares of the company were listed at Rs 632 apiece, a premium of 2.93 percent. The company's total market capitalization post listing of shares stood at Rs 7,203.37 crore.
Gaurav Garg, Lemonn Markets Desk, noted "Backed by strong fundamentals, a solid anchor book, and robust institutional participation, Oswal Pumps has drawn positive market sentiment with long-term prospects buoyed by government thrust on rural electrification and solar-powered irrigation systems."
Oswal Pumps Shares Listing: Should you buy, sell or hold?
Mahesh M Ojha, AVP – Research and Business Development at Hensex Securities, said "Long-term investors may consider holding the stock given its scale, market share and alignment with India’s renewable energy and agri-infrastructure goals." He added that investors who entered the issue for listing gains may consider partial profit booking if the stock opens above Rs 675, while retaining some exposure could be beneficial amid expectations of a potential re-rating. He advised new investors to wait for price stability post-listing, citing broader market volatility and possible initial selling pressure.
Prashanth Tapse, Research Analyst at Mehta Equities, advised allotted investors to hold the stock for the long term, citing the company’s position in key structural growth areas. "Non-allotted investors may consider accumulating on dips post-listing, especially in case of short-term market weakness," he added.
Oswal Pumps shares to list on Friday, experts see 10-15% listing gain
Oswal Pumps started operations in 2003 with the manufacturing of low-speed monoblock pumps, has since expanded into grid-connected submersible pumps and electric motors.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
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