Following a modest debut with a marginal 5 percent gain on the exchanges, shares of Innova Captab Limited gained momentum in afternoon trade on December 29, eventually locking in the upper circuit.
The stock surged to Rs 542, trading at a premium of 21 percent compared to the issue price of Rs 448. Innova Captab Limited, an Indian pharmaceutical company, engages in comprehensive activities including research and development, manufacturing, drug distribution, marketing, and exports.
Amidst this market action, analysts offer insights on the company’s listing and provide guidance for investors who have been allotted shares. Prathamesh Masdekar, a research analyst at StoxBox, suggests, “With most of the positives priced in, we advise investors to book profits on the listing day and subsequently consider investing in the company after evaluating its quarterly performance in the near term.”