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Multibagger in making? This stock has more than tripled in three sessions

Multibagger in making? This stock has more than tripled in three sessions

The stock hit an intra day high of Rs 695 today against the issue price of Rs 197, delivering 252.79% returns to investors in less than three sessions.

Latent View Analytics stock made a stellar debut on November 23, listing at a premium of 169% to the issue price. Latent View Analytics stock made a stellar debut on November 23, listing at a premium of 169% to the issue price.

Shares of Latent View Analytics have more than tripled from their IPO price in three sessions. Latent View Analytics stock hit an intra day high of Rs 695 today against the issue price of Rs 197, delivering 252.79% returns to its investors in less than three sessions.

Market cap of the firm rose to Rs 13,255 crore on BSE. Total 16.61 lakh shares changed hands amounting to a turnover of Rs 110.36 crore.

The stock rose 18.74% intra day to Rs 695 today against the previous close of Rs 585.30. The share fell to an intra day low of Rs 601on BSE. On NSE, the stock rose to Rs 695, clocking 18.81% gains to the previous close of Rs 584.95. The stock made a stellar debut on November 23, listing at a premium of 169% to the issue price.

Also read: Rs 0.35 to Rs 150: This penny stock turned into a multibagger in 2.5 years

The share of the data analytics services firm listed at Rs 530 (169 per cent higher to the issue price) on the Bombay Stock Exchange (BSE). Price band of the IPO was fixed at Rs 190 to Rs 197 per share.

On NSE, the firm made its debut at Rs 512.20 per share, up 160 per cent.

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For the period ended November 18, 2021, two promoters held 13.47 crore shares or 68.10% stake in the firm.

44,570 public shareholders held 31.90% stake or 6.31 crore shares in the firm. Of these, 43,904 shareholders held 82.42 lakh shares or 4.17% stake with capital up to Rs 2 lakh.

Only four shareholders with 6.67% stake held capital above Rs 2 lakh at the end of September quarter. 18 mutual funds held 4.80% stake or 94.97 lakh shares  for the period ended November 18.

 44 Foreign Portfolio Investors (FPI) owned 65.43 lakh shares or 3.31% stake in the firm. Analysts are bullish on the prospects of the stock.

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Parth Nyati, Founder, Tradingo said, "The investors who got the allotment can put a stop loss of Rs 450 and hold the stock with a long-term view, while the new investors should look for a dip to buy the stock. It is the first of its kind to get listed in the Indian stock market with no apple to apple peers.

So it has a first-mover advantage which is backed by strong management and fundamentals with increasing margins. There is a risk of revenue concentration and the revenue growth has been muted in the last three years. However, the industry is expected to grow at a CAGR of 15-20% in the next 3 years which will aid the company's revenue."

Santosh Meena, Head of Research, Swastika Investmart said, "Latent view is a data analytics company and this industry is likely to grow by18-20% for the next 3 years. The strong part of the company is that it will be one of its kind listed company, experienced management, and quality corporate governance practices.

It has a strong client base from Fortune 500 but there is concentration risk because 55% of its revenue comes from the top 5 clients. Revenue growth has been muted for this company however it has a strong margin with more than 20% return on equity. The overall outlook is bullish but the valuations look expensive after a strong listing. Long-term investors should hold this company into their portfolio."

The price band of the IPO was fixed at Rs 190 to Rs 197 per share.  The IPO was open from November 10 to November 12.

The share sale of Latent View Analytics was subscribed a whopping 326.49 times on the final day of subscription.

The Rs 600 crore-IPO received bids for 5,72,18,82,528 shares against 1,75,25,703 shares on offer, according to NSE data.

Also read: Rs 350 to Rs 1233: This multibagger stock zoomed over 250% in one year. Do you own it?

The portion for non-institutional investors was subscribed a massive 850.66 times. Qualified Institutional Buyers (QIBs) put in bids for 145.48 times during the IPO. The portion for retail individual investors (RIIs) was subscribed 119.44 times on the final day.

The company provides services ranging from data and analytics consulting to business analytics and insights, advanced predictive analytics, data engineering, and digital solutions.

Also read: Rs 5 to Rs 46: This stock turned into a multibagger in six months

Also read: Rs 21 to Rs 343: This stock turned into a multibagger in three months