Brigade Hotel Ventures share price gains after weak listing. Should you buy, sell or hold the stock?
Brigade Hotel Ventures shares were listed at ₹ 81.10 apiece on NSE, a discount of 9.89% to its issue price of ₹ 90 per share. On BSE, the stock began trading at ₹ 82, down 8.89% from the issue price.
However, buying emerged at lower levels and Brigade Hotel Ventures share price rallied as much as 7.07% from its listing price to an intraday high of ₹ 87.80 apiece on the BSE. Despite the gains, the stock is still nearly 4% below its issue price.
Brigade Hotel Ventures IPO listing was below Street estimates, as the Brigade Hotel Ventures IPO GMP today, or grey market premium today, ahead of the share debut was muted.
Brigade Hotel Ventures IPO investors who received allotment are suffering losses on their investors as the stock trades below IPO price. Here's what should investors do with Brigade Hotel Ventures shares:
Shivani Nyati, Head of Wealth at Swastika Investmart Ltd., noted that the Brigade Hotel Ventures IPO enjoyed robust investor interest in the retail and institutional categories, though sentiment cooled significantly before listing, resulting in a below‑par debut.
'The lack of a listing premium despite initial GMP optimism reflects mixed confidence in short‑term growth and sector headwinds. However, the company's strategic parentage, asset footprint, occupancy strengths, and hotel partnerships could support medium‑ to long‑term value appreciation,' said Nyati.
She recommends high risk investors to hold Brigade Hotel Ventures shares for medium to long term.
Yash Chauhan, Research Analyst, INVasset PMS said that while Brigade Hotel Ventures share debut lacked momentum, the long-term story remains backed by marquee assets, strategic locations, and brand tie-ups.
'Near-term focus, however, must remain on operational leverage and margin improvement,' said Chauhan.
At 2:35 PM, Brigade Hotel Ventures share price was trading at ₹ 86.38 apiece, higher by 5.34% than its listing price, and lower by 4.02% than its issue price on the BSE.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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