Hariom Pipe shares the high bounty list. Should you sell, hold or buy?

Shares of Hariom Pipe Industries made a dream debut on Dalal Street today as Hariom Pipes share price opened on BSE today at 214 levels each while on NSE it opened at 220 per share, offering a premium of approximately 44% to the beneficiaries. However, stock market experts are still optimistic as the stock has seen strong appetite from retail and mainstream investors.

Stock market experts said beneficiaries should book 50% profit and stay invested in the stock for 6 months, target of 320 levels per share keeping the stop loss at 197 levels each. For those who missed out on getting Hariom Pipe shares at grant, advised to buy at current levels for a one month target of 270 keeping the stop loss at 212.

However, for new investors, they advised them to buy with 50% surplus keeping the stop loss at 212. If the stock goes up, these investors are advised to book 270 levels. However, in case he dived and approached 212 or less 220, then new investors should accumulate with the remaining 50% of the amount maintaining the stop loss at 197 levels.

Speaking on Hariom PIpes share price; Ravi Singhal, Vice Chairman of GCL Securities, said: “As the public issue opened at a premium of approximately 44%, beneficiaries are advised to reserve 50% profit and recover their invested capital in the IPO.They can keep the rest for 6% monthly target of 320 keeping the stop loss at 197 levels per action.”

On how to maximize his Hariom Pipe IPO listing gain; Santosh Meena, Head of Research at Swastika Investmart Ltd, said: “Hariom Pipes Ltd. made its secondary market debut at 220 with a nice gain. The good rating of the company can be attributed to the good sentiments of the market and the good prospects of the steel pipe industry. The company has an integrated nature of operations, a cost effective process and an experienced management team. However, the cyclical nature of the industry and the commoditized nature of the commodities make it suitable only for aggressive long-term investors. Those who requested sign-up gains can maintain a stop loss of 195 and accounting profit up.”

For those who failed to obtain Hariom Pipes shares upon grant; Ravi Singhal of GCL Securities said: “Hariom Pipes share price is currently in the range of 212 to 270. Those wishing to buy these shares are advised to use 50% of their excess and buy Hariom Pipe shares at current levels maintaining the stop loss at 212 levels. If it falls to 212 or less 220, then they should accumulate the stock with the remaining 50 percent maintaining the stop loss at 197 levels per action for a 6 month goal of 320 levels. However, in case the stock spikes and approaches 270, then they are advised to book profits.”

Warning: The opinions and recommendations made above are those of individual analysts or brokerage firms, and not of Mint.

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Lucas E. Kelly