Zee Business Managing Editor Anil Singhvi had earlier predicted strong listing gains for the investors saying that the investors in this IPO should expect gains on similar lines as seen in Happiest Mind Technologies. Route Mobile Initial Public Offering (IPO) has been listed today and it opened on NSE at Rs 717. The IPO doubled on listing!
Singhvi said that the listing of this stock can been seen in two ways. One from the point of view of short term investors, for whom the money will get doubled. If they are happy with this gain then they should book profits.
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दोगुना हो जाएगा रूट मोबाइल !
अनिल सिंघवी- ₹650-700 के बीच मजबूत लिस्टिंग की उम्मीद,
निवेशक ₹600 के स्टॉपलॉस लगाएं और लॉन्ग टर्म निवेशक टॉप से ₹50 नीचे से SL ट्रेल करके चलें#EditorsTake #RouteMobile #IPO #NewListing @AnilSinghvi_ pic.twitter.com/4jr5cE59nD
— Zee Business (@ZeeBusiness) September 21, 2020
Another way is to carry your stop loss. He had advised investors to keep a stop loss at Rs 600 and book profits if the listing appears to go below this level.
The Market Guru said that there could be more buying on this stock after listing. This is a stock which is one of its kind. But their entire business model cannot be compared similarly. He further said that there is a lot of attraction towards, telecom and internet related companies. One can see a good action in such companies after the listing.
For long term investors, the strategy is simple. Whatever the listing price is, investors should put a stop loss at a level with a difference of Rs 50 below it, the Market Guru said. It is not the case that the prices would not go up further.
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Route Mobile was trading around Rs 675.40 around 11:30 am.