Akums Drugs and Pharma shares jump 8% post listing. Should you buy, sell or hold?
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Akums Drugs and Pharmaceuticals shares jumped 8% to Rs 784.6 following their debut on the exchanges on Tuesday. The stock debuted at Rs 725 on the NSE and BSE, reflecting a premium of Rs 46 or 7% over the IPO price of Rs 679. However, the listing was below expectations, with shares previously trading at a grey market premium (GMP) of Rs 140. "Akums Drugs and Pharmaceuticals made a subdued debut on the stock market. While the IPO received a strong subscription of 63.44 times and the initial market buzz was positive, the actual listing fell short of expectations, likely influenced by the prevailing market volatility," said Shivani Nyati, Head of Wealth of Swastika Investmart. "The company's strong fundamentals and market position offer potential for long-term growth, but investors should carefully assess the risks and market volatility. Investors with a long-term view may hold their position by keeping a stop loss at its ...