In the long run, analysts still believe the stock does give value in holding, but buying on dips or after further scrutiny of the company in the coming quarters would be prudent.
26 mines in govt’s 9th round of commercial coal mine auction in Top News on December 20: DOMS Industries IPO listing, Share market, Bank Nifty outlook, Kia Sonet facelift bookings open also in focus.
The second largest domestic player in the branded ‘stationery and art’ products market had received a strong response from investors during it IPO bidding process, with the issue getting subscribed a solid 99.34 times.
DOMS stock was listed at Rs 1400 as against an offer price of Rs 790. Most estimates were predicting listing gains to be in the range of 60-65%. It extended gains to Rs 1434. The strong listing can be attributed to the company s solid performance over the past three years, marked by significant growth in revenue and profitability.
DOMS Industries public offer was subscribed 93 times at close. The category reserved for retail investors was subscribed the most at 69 times, followed by NIIs at 66 times. The QIB portion of the issue was booked 116 times. The company boasts a track record of impressive financial performance with consistent revenue and profit growth, further fueled by robust expansion plans that unlock exciting future potential.