Yatharth Hospital shares: After a disappointing debut a D-St; is it time to buy the debutant?
Shares Yatharth Hospital saw some follow-up buying as the stock surged about 13 per cent to Rs 338.70 on Monday and the stock was hovering in the range of Rs 330-335.
- Aug 7, 2023,
- Updated Aug 7, 2023 1:27 PM IST
Shares of Yatharth Hospital and Trauma Care Services made a muted debut at Dalal Street on Monday, against expectations of the investors. However, the stock recovered from the initial disappointment and saw up some follow-up buying on the maiden trading session.
The stock was listed at Rs 306.10, a premium of 2 per cent, against its issue price of Rs 300 per share on the National Stock Exchange (NSE) on Monday. Similarly, the stock was listed at a premium of 1 per cent at Rs 304 on the BSE. However, analysts and investors were expecting better gains at listing.
Shares of Yatharth Hospital saw some follow-up buying as the stock surged about 13 per cent to Rs 338.70 on Monday. However, the stock was hovering in the range of Rs 330-335 during the second half of the session. The stock did not break its listing price levels.
According to the market analysts, the ongoing volatility in the secondary market has also impacted fresh listings. Interestingly, they are suggesting short-term investors to book profit even at the lower levels, while aggressive investors can hold the stock for medium to long term. Fresh buying, however, is not advised by the experts.
The latest listing is well below expectations, given the strong subscription rate that the IPO received earlier. However, the current market uncertainty is likely to blame for the muted response from investors, said Anubhuti Mishra, Equity Research Analyst at Swastika Investmart
"Post listing the IPO is trading at Rs 333 per share, a premium of around 10 per cent over the issue price. Investors who are looking for short-term gains may book profits at this level. However, aggressive investors who believe in the long-term prospects of the company may hold the stock with a stop loss at around the issue price," she added.
Yatharth Hospital raised about Rs 687 crore from its initial stake sale and had received a decent response from the investors during the three-day bidding process. The company sold its shares in the range of Rs 285-300 apiece, which was open for bidding between July 26-28. Yatharth Hospital & Trauma Care Services debuted with a mild premium on Monday. The hospital chain is amongst the prominent super specialty providers in Delhi NCR and stable fundamentals. The company however sees great growth potentials in the near future. We suggest investors exit the counter on the listing day, said Mahesh M. Ojha AVP – Research at Hensex Securities.
The issue was overall subscribed 37.28 times during the three-day bidding. The quota for qualified institutional bidders (QIBs) was booked 86.37 times, while non-institutional investors (NIIs) were subscribed 38.62 times and retail investors' allocation was booked 8.66 times.
Incorporated in 2008, Yatharth Hospital is a hospital chain which operates four-super specialty hospitals located in Noida, Greater Noida, and Noida Extension. The company acquired a 305-bedded multi-specialty hospital in Orchha, Madhya Pradesh to extend its operations and services.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today)
Shares of Yatharth Hospital and Trauma Care Services made a muted debut at Dalal Street on Monday, against expectations of the investors. However, the stock recovered from the initial disappointment and saw up some follow-up buying on the maiden trading session.
The stock was listed at Rs 306.10, a premium of 2 per cent, against its issue price of Rs 300 per share on the National Stock Exchange (NSE) on Monday. Similarly, the stock was listed at a premium of 1 per cent at Rs 304 on the BSE. However, analysts and investors were expecting better gains at listing.
Shares of Yatharth Hospital saw some follow-up buying as the stock surged about 13 per cent to Rs 338.70 on Monday. However, the stock was hovering in the range of Rs 330-335 during the second half of the session. The stock did not break its listing price levels.
According to the market analysts, the ongoing volatility in the secondary market has also impacted fresh listings. Interestingly, they are suggesting short-term investors to book profit even at the lower levels, while aggressive investors can hold the stock for medium to long term. Fresh buying, however, is not advised by the experts.
The latest listing is well below expectations, given the strong subscription rate that the IPO received earlier. However, the current market uncertainty is likely to blame for the muted response from investors, said Anubhuti Mishra, Equity Research Analyst at Swastika Investmart
"Post listing the IPO is trading at Rs 333 per share, a premium of around 10 per cent over the issue price. Investors who are looking for short-term gains may book profits at this level. However, aggressive investors who believe in the long-term prospects of the company may hold the stock with a stop loss at around the issue price," she added.
Yatharth Hospital raised about Rs 687 crore from its initial stake sale and had received a decent response from the investors during the three-day bidding process. The company sold its shares in the range of Rs 285-300 apiece, which was open for bidding between July 26-28. Yatharth Hospital & Trauma Care Services debuted with a mild premium on Monday. The hospital chain is amongst the prominent super specialty providers in Delhi NCR and stable fundamentals. The company however sees great growth potentials in the near future. We suggest investors exit the counter on the listing day, said Mahesh M. Ojha AVP – Research at Hensex Securities.
The issue was overall subscribed 37.28 times during the three-day bidding. The quota for qualified institutional bidders (QIBs) was booked 86.37 times, while non-institutional investors (NIIs) were subscribed 38.62 times and retail investors' allocation was booked 8.66 times.
Incorporated in 2008, Yatharth Hospital is a hospital chain which operates four-super specialty hospitals located in Noida, Greater Noida, and Noida Extension. The company acquired a 305-bedded multi-specialty hospital in Orchha, Madhya Pradesh to extend its operations and services.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today)