Akme Fintrade share price touches upper circuit after positive debut

Akme Fintrade (India) Ltd shares made a strong debut on both BSE and NSE, opening at 125.70 and 127 respectively. The stock quickly gained momentum, reaching an intraday high of 133.35 on NSE and 131.95 on BSE. This upward trend was further reinforced by a 5 percent upper circuit lock after a positive debut in the Indian secondary market.

Akme Fintrade share price outlook

VLA Ambala, Founder of Stock Market Today, advises Akme Fintrade shareholders to consider booking profit. He points out key concerns such as higher NPAs compared to peers, past compliance failures with RBI norms, significant shareholding and management changes without RBI approval, and low credit ratings that could impact the company’s future performance in the secondary market.

Arun Kejriwal, Founder of Kejriwal Research and Investment Services, reiterates VLA Ambala’s advice. He explains that Akme Fintrade’s listing in the trade-to-trade category means that buying and selling the stock on the same date is not possible. This could potentially limit the stock’s movement and trade volume, leading to a recommendation for those who received shares during the allotment process to consider booking profit and exiting.

For high-risk investors, VLA Ambala of Stock Market Today reassured, “Retail IPO traders who applied for listing gains and received an allotment may consider withdrawing their invested amount and retaining the profit due to the anticipated high volatility post-listing. This information prepares you for the potential market fluctuations.”

Akme Fintrade (India) Ltd., an Udaipur-based NBFC, received oversubscription in all categories. On the final day, the IPO achieved 53.78 times oversubscription as of June 21. The retail portion was subscribed 43.35 times, the NII portion 129.34 times, and the qualified institutional buyers portion 28.12 times.

Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

3.6 Crore Indians visited in a single day choosing us as India’s undisputed platform for General Election Results. Explore the latest updates here!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.


Published: 26 Jun 2024, 12:49 PM IST

Source link


Leave a Reply

Your email address will not be published. Required fields are marked *

Next Post

Vraj Iron IPO booked 1.9x on first bidding day so far. 10 key risks to consider

Wed Jun 26 , 2024
Vraj Iron and Steel IPO subscription status: With a full subscription on the first day of bidding, Vraj Iron and Steel Ltd’s initial public offering is off to a terrific start. The Sensex, Bank Nifty, and Nifty 50 have all reached all-time highs, which seems to have also helped the […]
Vraj Iron IPO booked 1.9x on first bidding day so far. 10 key risks to consider

You May Like