ixigo share price extends gain after dream debut on Dalal Street. Buy or sell?

ixigo share price today listed on BSE and NSE, delivering stellar returns to the lucky allottees. Shares of the ixigo brand parent company, Le Travenues Technology Limited, opened on BSE at 135 apiece. In contrast, it listed at 138.10 per share on NSE, delivering a significant 48 percent listing gain to the lucky allottees. This means that those who were allotted the shares at the IPO price of 93 apiece saw their investment grow by almost half immediately upon listing. However, ixigo shares weren’t done yet. The newly listed stock witnessed strong buying post-listing and touched a new peak of 149.19 on NSE, extending the listing gains beyond 50 percent against the ixigo IPO upper band of 93 apiece.

According to stock market experts, the ixigo share price may scale further upside as India’s tour and travel industry is expected to grow further, and the company’s growth is expected to touch 22 percent by FY30. So, one can hold the scrip, maintaining a long-term time horizon. However, they advised ixigo share allottees to consider booking 50 percent profit and hold the scrip with the rest of the amount, ensuring a secure investment strategy.

ixigo share price: Buy, sell or hold?

On the suggestion to ixigo shareholders after a strong debut, Parth Shah, Research Analyst at StoxBox, painted a promising picture. “Due to the increasing GDP growth scenario, the contribution of hotels and the travel sector is set to increase to 22% by FY30. Also, due to the growing population, discretionary spending due to increasing income levels, and increasing consumption patterns, the hotels and travel industry are poised to benefit from the emerging non-tier one city demand. Also, the increasing air traffic among the Tier 2 and 3 cities, the introduction of new railway routes, better and upgraded experience of train travel, and the government’s increased focus on improving the road infrastructure across the country will be the major factors driving the travel industry as a whole.”

“Due to such positive macro factors and the increasing consumption trends, the company is set to benefit from this scenario. Hence, we strongly advise the market participants allotted the shares to hold them for a medium to long-term period,” the StoxBox expert stated.

“Investors with a lower risk appetite may consider holding this stock. They may withdraw the investment and keep their profits invested,” said VLA Ambala, SEBI Registered Research Analyst and Co-Founder of Stock Market Today.

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.

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Published: 18 Jun 2024, 11:15 AM IST

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