KFin Technologies shares dip after flat debut. Buy, sell or hold? | Mint – Mint
- KFin Technologies share price opened at ₹367 on NSE and at ₹369 on BSE
KFin Technologies shares made a flat debut on Dalal Street in special pre open session today. In early morning deals, KFin Technologies share price opened at ₹369 on BSE and ₹367 on NSE. However, profit booking soon riggered in the stock and KFin Technologies shares made its intraday low of ₹351.10 on BSE. KFin Technologies share price is currently quoting around ₹355 apiece.
According to stock market experts, allottees should exit on rise from its lows and those who have high risk appetite can maintain stop loss at around ₹330 to ₹340 apiece levels. However, they advised high risk traders to exit the stock on rise as well.
Speaking on KFin Technologies share price outlook, Manoj Dalmia, Founder & Director at Proficient Equities said, “KFin Technologies IPO was offered at high valuations and the public issue received dull response from the investors as well. Rest of the damage was done by weak secondary market sentiments, which is still persisting due to renewed fear of Covid-19 pandemic. So, my advice to allottees is to come out their position on rise and wait for more clarity of trend in regard to KFin Technologies share price move.”
Pravesh Gour, Senior Technical Analyst at Swastika Investmart said, “KFin Technologies Ltd is a leading technology-driven financial services platform. It has the advantage of longstanding client relationships, and its asset-light business model is also a plus. However, the company’s financial results have been mixed. It reported a significant increase in revenue over the last 3 years and 6 months. However, the company’s margins declined in FY20, and it also incurred a loss in FY21, but it recovered and generated strong margins recently. Secondly, this issue is complete OFS and the company will not receive any proceeds from this IPO.”
Pravesh Gour of Swastika Investmart said that allottees can hold the stock with strict stop loss at ₹340 as stock may go up to ₹380 apiece levels once there is relief rally in the secondary markets.
KFin Technologies IPO was subscribed 2.59 times on the last day of offer that closed on Wednesday, December 21, 2022. The issue received bids for 6,14,67,520 shares against 2,37,75,215 shares on offer. The three day public issue’s price range was fixed at ₹347 to ₹366 per equity share. The financial services provider company raised ₹675 crore from anchor investors days before its offer.
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 taking any investment decisions.
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