Exicom’s Stellar Debut on Stock Market Faces Profit Booking Amid Trade Volume Surge

Exicom Tele-Systems Limited shares made a stunning debut on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) today, with a rocketing 86 percent premium over the issue price of ₹135 to ₹142 each. The startup price on BSE was ₹264 per share, while NSE witnessed an opening value of ₹265 per share.

Following the impressive listing, the stock price experienced a downturn as profit booking ensued after the initial fervor. In mere minutes post-listing, Exicom’s share price plummeted to ₹233.10 per share on NSE.

Market experts attribute the drop in Exicom’s share price to the heavy trade volume observed in the stock post-listing day. The suggestions for allocated investors range from partial profit booking to complete exit, considering the substantial listing gains achieved.

Prashant Thapse, the Senior Vice President of Research at Mehta Equities, remarked that the listing of Exicom was in alignment with expectations. The premium listing was justified by the company’s early foray into EV charger solutions, along with strategic partnerships cementing its market leadership.

Arun Kejriwal, the Founder of Kejriwal Research and Investment Services, advised long-term investors in Exicom shares to secure 50 percent profit and retain the remaining shares for a bear market correction. He emphasized the vulnerability of overvalued stocks to steeper declines in such a market climate.