Outline
Bikaji Foods share price opened on BSE at ₹321, ₹21 higher from its upper price band of ₹300 per share.
Bikaji Foods shares have today debuted on Dalal Street at a slight premium. Shares today opened on BSE at ₹321, delivering 7 per cent listing premium to allottees. After opening at ₹321, Bikaji shares surged further and made intraday high of ₹335 apiece.
Buy,Sell or Hold
Advising long term investors to buy and hold Bikaji Foods shares, Pravesh Gour, Senior Technical Analyst, Swastika Investmart said, “Bikaji Foods share has debuted at 7 per cent over its issue price. The company’s muted listing but the issue had received a good response from investors on both the institutional as well as Retail side. Nevertheless, the company’s margins are on the declining side and a P/E valuation of 95.2 looks expensive. Therefore, we advise only aggressive investors should consider making a long-term commitment to the company. Those who applied for listing gains can maintain a stop loss of ₹310 levels.”
On Bikaji Foods shares, Ravi Singhal, CEO at GCL Securities said, “The issue was highly priced and it may come down towards ₹270 to ₹260 apiece levels after the profit-booking trigger. So allottees are advised to book profit and exit and re-enter at around ₹260 to ₹270 apiece levels for one year target of ₹385 to ₹400 levels.”
He said that those who missed to get Bikaji Foods shares during share allotment can also buy this stock in ₹260 to ₹270 range for one year target of ₹385 to ₹400 apiece.