Ami Organics shares: Should you hold or buy more after strong listing?
Ami Organics shares today made a strong debut at Indian bourses delivering 49 per cent listing gain to its shareholders. The chemical stock listed at ₹910 apiece on NSE — ₹300 or around 49 per cent up from its price band of ₹603 to ₹610. According to experts, those who have Ami Organics shares in their portfolio should book 50 per cent profit and hold the rest maintaining trailing stop loss at ₹811. They suggested fresh buy at around ₹840 as profit-booking is strongly awaited in the chemical counter.
Speaking on Ami Organics share price outlook; Ravi Singhal, Vice Chairman at GCL Securities said, "Ami Organics has strong business outlook as it belongs to chemical space and it manufactures API, whose demand has almost doubled in the last one year. This demand is further expected to go northward and hence, Ami Organics is expected to get benefit of this rise in demand as there are limited suppliers of API." He advised Ami organics shareholders to book 50 per cent profit above ₹900 and hold the rest maintaining trailing stop loss at ₹811 apiece.
Advising share holders to hold Ami Organics shares; Santosh Meena, Head of Research at Swastika Investmart Ltd said, "The chemical company may perform well in the long run on the back of strong domestic and global opportunities whereas China +1 strategy may also provide robust growth to the specialty chemical companies in India. We would recommend the stock to hold from a long-term perspective."
On those who missed to get Ami Organics shares during share allotment, Ravi Singhal of GCL Securities said, "Those who want to buy Ami Organics are advised to wait for the profit-booking and buy at around ₹840 for the 3-month target of ₹950. However, one must maintain a strict stop loss at ₹811 while taking this position in Ami Organics shares."
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.