Mukka Proteins Share Price Plunges Below Market Expectations After Listing

On Thursday, Mukka Proteins experienced a disappointing debut on Dalal Street as its share price plunged below market expectations. The company listed its shares on the Bombay Stock Exchange (BSE) at ₹44 per share and on the National Stock Exchange (NSE) at ₹40 per share, significantly lower than the anticipated listing price of ₹60 to ₹66 per equity share.

Shortly after listing, Mukka Proteins shares faced intense selling pressure, hitting an intraday low of ₹38.24 on the BSE and ₹38.25 on the NSE. Analysts noted that the stock’s market debut was below initial estimates, as investors were expecting substantial gains on the listing day.

Arun Kejriwal, the Founder of Kejriwal Research and Investment Services, remarked that Mukka Proteins’ listing fell short of market forecasts, highlighting the discrepancy between predicted and actual listing prices. Kejriwal advised long-term investors to consider booking profits and exiting their positions, while suggesting that short-term investors who aimed for listing gains could hold the stock with a stop loss at ₹36.

Dhruv Mudaraddi, a Research Analyst at Stoxbox, emphasized the company’s promising prospects in the fish protein industry due to its strong market presence and innovative product offerings. He recommended investors to lock in profits post-listing and reconsider investments in Mukka Proteins based on its upcoming quarterly performance.

Kejriwal suggested that despite the initial sell-off, there could be a potential rebound once selling pressures subside. He advised investors who entered for short-term gains to hold onto the stock, setting a stop loss at ₹36 and capitalizing on any upward movement.