Last updated: Nov 24, 2022, 10:25 AM IST
Share price Keystone Realtors: Shares of Mumbai-based property company Keystone Realtors made a market debut on Wednesday with a listing of Rs 555 per share on the NSE, a premium of more than 2 percent compared to the IPO issue price of Rs 541 per share. On the BSE, shares of Keystone Realtors started trading at Rs 555 each.
Should you buy?
Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd., said, “Keystone Realtors has made its debut at Rs. 555, ie (2.58 percent) above the issue price. The company has given a respectable rating to unexciting investor subscription levels. With a rising population, urbanization in India is also increasing at a rapid pace, which is expected to drive demand for residential, office and other real estate asset classes in the medium to long term, and MMR still holds the largest share of all cities in terms of this offer. KRL is a well-known real estate developer from Mumbai. It is also trying to work on an asset-light business model. KRL has reported a mixed set of financials where sales are almost stable.”
“Thus, allottees who have signed up for the public offering for listing premium are advised to keep their stop loss at Rs 545 and wait for further rise, while those with a medium to long term perspective can hold the shares and set their stop loss can keep. at Rs 510,” he added.
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