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Rashi Peripherals share price made a lukewarm debut on the bourses today. On NSE, Rashi Peripherals share price was listed at ₹339.50 per share, 9.16% higher than the issue price of ₹311. On BSE, Rashi Peripherals share price today was listed at ₹335 apiece, up 7.72% than the issue price.
Also Read: Rashi Peripherals share price makes a lukewarm debut, stock lists with 9.16% premium at ₹339.50 on NSE
Rashi Peripherals share price slightly slipped into the red zone after a tepid debut. However, the stock picked up some steam and was trading more than 4% higher at ₹324.05 apiece on the NSE, while Rashi Peripherals share pricewas down 2.70 % on the BSE at ₹325.95 apiece.
Industry insiders predicted that the Rashi Peripherals IPO will list for between ₹370 and ₹380, with a 20% listing gain.
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According to investorgain.com, Rashi Peripherals IPO GMP today suggested a sober listing. The grey market premium was +34. Based on last 19 sessions grey market activities, the current GMP ( ₹34) signalled towards the lower side. The lowest GMP was ₹0, while the highest GMP was ₹85.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Rashi Peripherals share price was indicated at ₹345 apiece, which is 10.93% higher than the IPO price of ₹311.
Rashi Peripherals share price outlook
Analysts noted that Rashi Peripherals did well for FY21 and FY22 due to surge in demand of products. For FY23, though it marked higher top line, it posted lower bottom lines due to reduced margins after vanning out of pandemic euphoria. ‘’Its H1-FY24 performance indicates restoration of trends, and the management is confident of maintaining the earning trends,” said Amit Goel, Co-Founder and Chief Global Strategist at Pace 360
“Investors may park funds for the medium to long term rewards,” added Goel.
Also Read: Rashi Peripherals IPO listing today: Experts indicate up to 20% premium; check GMP
Mahesh M. Ojha, AVP-Research and Business Development, Hensex Securities Pvt Ltd, stated that Rashi Peripherals Ltd. offered investors a decent 9% return on their initial investment. Given its pan-India presence, multi-channel distribution footprint, long-term relationships with prestigious global technology brands, diversified and comprehensive product portfolio, and consistent track record of superior financial performance and return metrics, the company is a leading and fastest-growing Indian distribution partner for ICT products, having all the leading brands/OEMs.
“We suggest investors to book atleast 50% profits on the listing day itself, rest can be kept for long term investment, added Mahesh.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
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Published: 14 Feb 2024, 10:54 AM IST
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