Stock market today: ESAF Small Finance Bank share price today listed on Indian stock market at whopping 20 per cent premium. ESAF IPO listed on BSE at ₹71.90 per share levels whereas on NSE, ESAF shares listed at ₹71 apiece levels.
According to stock market experts, fundamentals of the company is strong and ESAF IPO was offered at an attractive valuations. Hence, long term investors can hold the scrip and wait for Q2 results 2023 of the company. However, they advised strict stop loss below ₹68 while holding ESAF Small Finance Bank shares.
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However, after strong debut of shares, the newly listed scrip ascended further and made intraday high of ₹74.80 on NSE and ₹74.70 on BSE respectively within few minutes of stock listing.
ESAF share price outlook
On why ESAF Small Finance Bank IPO listed at strong premium, Avinash Gorakshkar, Head of Research at Profitmart Securities said, “Fundamentals of ESAF Small Finance Bank Limited is quirte strong and the issue was offered at attractive valuations as well. Looking at the segmental business, market is expecting promising quarterly numbers from the company. So, those who applied for listing gains can book profit and exit whereas those want to add more gains in their investment, they are advised to at least wait for the Q2 results 2023 of ESAF Small Finance Bank Limited.”
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On pivot levels in regard to ESAF Small Finance Bank shares, Arun Kejriwal, Founder at Kejriwal Research and Investment Services said, “ESAF shares are currently in ₹68 per share to ₹80 apiece range. Bullish or bearish trend can be assumed only on breakage of either side of the range. Those who want to hold the stock for more gains, they can hold the scrip maintaining stop loss below ₹68 levels.”
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On suggestion to those who missed to get ESAF Small Finance Bank shares through allotment process, Arun Kejriwal said, “Those who want to enter in this stock are advised to wait for some time as the stock may become bullish after breaching the current hurdle placed at ₹80 on closing basis. One should wait for the second quarter results of the company, which is expected soon and then only make any fresh investment decision in this newly listed scrip.”
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 taking any investment decision.
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Updated: 10 Nov 2023, 11:44 AM IST