NSDL share price jumps 5% after strong debut on Dalal Street. Buy, sell or hold?
NSDL shares were listed at ₹ 880 apiece on the BSE, a premium of 10% to its issue price of ₹ 800 per share.
After the debut, NSDL share price witnessed buying momentum and rallied as much as 5.10% from its listing price to hit a high of ₹ 924.90 apiece. At this high, NSDL shares were up 15.61% from the issue price.
NSDL share listing was in-line with the Street estimates. NSDL IPO GMP today signalled listing at a premium of 15% to the IPO price. Here's what analysts recommend on NSDL shares after strong listing.
'Despite the muted sentiment in broader markets, NSDL listed broadly in line with our expectations, underpinned by its strong long-term fundamentals. We maintain our positive stance, as NSDL remains the dominant player in the institutional depository space, with a leading share in custodial and depository services for mutual funds, insurance firms, banks, and foreign portfolio investors (FPIs),' said Prashanth Tapse, Sr VP Research – Research Analyst, Mehta Equities Ltd.
Given the company's established market position, revenue visibility, and the current valuation dynamics, Tapse recommends allotted investors to hold NSDL shares from a long-term investment perspective.
'For non-allotted investors, a wait & watch approach is advised, as post-listing dips could offer a more attractive entry point,' Tapse said.
Shivani Nyati, Head of Wealth at Swastika Investmart Ltd. noted that NSDL shares made quite a good, solid debut on the stock market, and advised investors to book partial profits near the listing level and retain some shares, possibly with a stop‑loss around ₹ 850 level.
Master Capital Services Ltd. recommends investors who got IPO allotment to consider holding NSDL shares for the long term as the company has strong fundamentals and a leadership position in the depository segment.
'On the other hand, those who didn't get NSDL shares in the IPO can buy when the price declines,' said the brokerage firm.
At 2:45 PM, NSDL share price was trading at ₹ 918.70 apiece on the BSE, higher by 4.40% from its listing price, and higher by 14.84% from its issue price.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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