December 29, 2023 / 10:16 AM IST
Sensex Today | Shivani Nyati, Head of Wealth, Swastika Investmart:
Innova Captab, the generic pharma manufacturer, made a lukewarm debut on the stock market, listing at Rs 471 per share, a mere 5.1% premium over its IPO price of Rs 448. This lackluster performance falls short of pre-listing expectations.
Despite such a listing, Innova Captab still possesses its core strengths, including a strong market position, robust financials, and strategic growth initiatives. However, the flat debut highlights the potential risks associated with the highly competitive market, regulatory environment, and currency fluctuations.
Given the uncertain outlook, a cautious approach is warranted, and investors may exit their position; however, those who want to hold it should maintain a stop loss at the issue price.
