5.4 C
New York
Friday, March 1, 2024

Ideaforge share price fell 18% on profit-booking after the bumper listing. Is this a buying opportunity?



ideaForge share price stock market news today 1689050575815 1689050576059

Ideaforge share price has been under selling pressure this week after a bumper listing on Friday. Ideaforge share price opened with a loss today and hit a lifetime low 1114.45 per share on the NSE, registering a loss of nearly 18 per cent from its lifetime high. 1343.95 each. So, after the bumper listing on Friday, the share price of this drone maker has fallen by around 18 per cent which may attract bargain hunters. indian stock market,

According to Share Market According to experts, Ideaforge Technology Limited deals in defense and security drone manufacturing and hence the company is expected to deliver better numbers in the coming quarters. However, he added that like any other defense company, IdeaForge is also facing problem in sustaining its business revenue. Hence, those who are ready to take higher risk can enter the stock at current levels while maintaining stop loss 1090 for the immediate target of 1345.

IdeaForge Share Price Outlook

Advising high risk appetite investors to buy Ideaforge shares, Vaibhav Kaushik, Research Analyst, GCL Broking said, “Ideaforge is a defense stock and defense companies generally find it difficult to sustain their business. Hence, Ideaforge Ltd. is also facing the same problem and hence the shareholders of the company are advised to hold the stock as it may make a strong recovery from its lower levels.” GCL Broking experts advised IdeaForge shareholders Recommended to hold the stock with strict stop loss 1090 each level.

On advice to traders regarding Ideaforge shares, Vaibhav Kaushik, GCL Broking said, “Ideaforge shares may turn vulnerable if it breaks.” 1100 level on closing basis. However, the way defense theme is working on Dalal Street, high risk appetite investors can take fresh entry at current levels for short term target 1345 each level.” However, he advised strict stop loss 1090 for new investors also.

After a strong listing on Dalal Street, Anubhuti Mishra, Equity Research Analyst Swastik Investmart Advising lucky allottees to book listing profits and exit, saying, “While there is no doubt that this was a great opportunity for investors, and it has given some amazing returns, we would recommend that investors book profits.” and exit your position. This is because after listing the stock is already trading at a much higher premium to its issue price. Additionally, there are certain business-related risks associated with the company, So it is better to lock in these gains now rather than take the risk of carrying them forward.”

Disclaimer: The views and recommendations in this article are those of the individual analyst. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decision.

Know your inner investor
Do you have strong nerves or do you get insomnia over your investments? Let’s define your investment approach.

test

catch all business News, market news, today’s fresh news events and Breaking News Update on Live Mint. download mint news app To get daily market updates.

More
Less

Updated: July 11, 2023, 10:16 AM IST

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles