Laxmi Dental shares rally over 10% after listing. What should investors do?
[hfe_template id='11223']
[ad_1]
Laxmi Dental shares debuted at Rs 542 per share on the NSE, and the stock jumped as much as 7.7% to an intra-day high of Rs 584 on the NSE, while the market cap climbed to Rs 3,119.10 crore. On the BSE, the stock opened at Rs 528 per share, reflecting a 23.4% premium, and valued the company at Rs 3,126 crore. The positive listing was in line with market expectations, as the stock had been trading with strong gains in the grey market, commanding a premium of Rs 145 or 33.9% over the issue price. Analysts noted the company's impressive transition from losses to profitability. Shivani Nyati, Head of Wealth at Swastika Investmart, highlighted Laxmi Dental's stature as the second-largest domestic laboratory business and the largest export laboratory in India. “The company made a good stock market debut, listing for Rs 542 per share, a significant 26.6% premium over its issue price of Rs 428. Those who took part in the initial public of...