ASK Automotive share price jumps after positive debut. Buy, sell or hold?

ASK Automotive

Today’s stock market: ASK Automotive Limited’s shares went public on the BSE and NSE on Wednesday at a premium of roughly 7.5% during a special pre-open session. Even after a positive listing, the auto stock continued. The price of ASK Automotive’s shares increased further, reaching an intraday high of ₹311.75 on the BSE and ₹312 on the NSE, respectively.

ASK Automotive initial public offering (IPO):

Stock market analysts say that the ASK Automotive initial public offering (IPO) listing is expected by the market. They said that car stock was able to list higher from its upper price band of ₹282 per share levels, even with high valuations and 100% OFS. Experts in the market continued by saying that the company’s fundamentals provide long-term investors significant opportunities, so if one has a long-term outlook, one can hold the stock.

Prashanth Tapse, Senior VP of Research at Mehta Equities, commented on the IPO offering of ASK Automotive, saying, “The listing of ASK Automotive shares was in line with street expectations.” We think there would be a respectable demand for the shares after listing because they have drawn a lot of interest from a variety of investors, including QIB, which has bought 142 of the shares. Additionally, we think ASK can serve as a stand-in for the expansion of the Indian auto industry.”

On what next after positive debut, Avinash Gorakshkar, Head of Research at Profitmart Securities said, “I would call ASK Automotive IPO listing a decent listing as it has managed to list positively despite high valuations and 100 per cent OFS. This is because company’s fundamentals are strong. I would advise long-term investors to hold the stock and continue adding to it at each downturn because the car sector is predicted to surge much more.”

Shares of Tata Motors DVR, Suzlon, and Paytm rise upon inclusion in the MSCI index:

We suggest allocated investors to “HOLD FOR LONG TERM” because we firmly believe that ASK Automotive provides them with a long-term opportunity to hold and profit from the growth in the automotive sector. Meanwhile, those who were not allotted can accumulate on the listing day for holding it for healthy long term returns as markets always reward a player who has high visibility and growth potential. Prashanth Tapse made this recommendation of holding the scrip for long term investors.

ASK Automotive share price target:

Arun Kejriwal, the founder of Kejriwal Research and Investment Services, expressed his expectation for more upside in ASK Automotive shares, saying, “ASK Automotive share price listed at attractive premium and it has witnessed good volume in pre-listing and post-listing phase.” As a result, it appears that ASK Automotive shares are settling in the ₹305 to ₹310 per share zone. It is recommended that holders of shares acquired during the allocation process keep their holdings with a strict stop loss set at ₹299 per share.”

Arun Kejriwal offered the following advice to people wishing to buy shares in ASK Automotive: “Fresh entry is encouraged at current levels preserving stop loss at ₹299 levels, One should If it falls into the ₹305 to ₹310 per share zone, buy more since a high transaction volume indicates a significant recovery from lower levels. However, one must maintain strict stop loss at ₹299 while taking fresh position in this auto scrip.”

The share price of ASK Automotive opened at ₹304.90 on the BSE, but it listed on the NSE at ₹303.30.


Please enter your comment!
Please enter your name here