Rossari Biotech Listing: REVEALED! Market Guru Anil Singhvi unveils top money-making strategy
Rossari Biotech Listing: Rossari IPO has had a great debut today on the BSE as the specialty chemical company got listed at a whopping Rs 670, which is almost 60 per cent above its issue price.
Rossari Biotech Listing: Rossari IPO (Initial Public Offer) has had a great debut today on the BSE as the specialty chemical company got listed at a whopping Rs 670, which is almost 60 per cent above its issue price. Now, those investors who bought into the Rossari IPO are in a happy position. However, they are uncertain about one thing - if they want to sell for a big profit, when exactly should they sell? Stepping in to help them is Market Guru Anil Singhvi, who revealed what should be the strategy for them.
Zee Business Managing Editor Anil Singhvi said that there are not just one, but two types of strategies — hold or book profit.
For those who want to hold Rossari Biotech shares, Anil Singhvi said, "Rossari Biotech shares have got bumper listing and currently trading at around Rs 680, which means it is giving around 62-63 per cent returns to those who got the IPO subscription. From here, there can be some correction in the Rossari Biotech shares and hence one can book profit and re-enter at lower levels, if they want."
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However, for those who want to hold and maximise returns, the Market Guru said, "If someone wants to hold Rossari Biotech shares, then I would suggest them to maintain a stop-loss at Rs 650. If it hits this stop-loss then they will be able to get around 60 per cent return on their investment and if it breaks the intraday high of Rs 699 and sustains above 700 per stock level, then it will help the investors to maximise their returns."
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रोसारी बायोटेक की दमदार लिस्टिंग, इश्यू प्राइस ₹425 के मुकाबले ₹670 पर लिस्ट#RossariBiotech #RossariBiotechIPO @AnilSinghvi_ pic.twitter.com/H7FDCKXJ3V
— Zee Business (@ZeeBusiness) July 23, 2020
This robust Rossari Biotech Listing was expected as the Rs 496 crore IPO was subscribed 79.37 times. The price range for the Rossari Biotech IPO was fixed at Rs 423 to 425. As per the data available at NSE, the IPO received bids for 64,87,33,645 shares against the total issue size of 81,73,530 shares. The category reserved for qualified institutional buyers (QIBs) was subscribed 85.26 times, non-institutional investors 239.83 times, while the retail portion was subscribed 7.23 times.
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