Quote on Aptus Value Housing Finance Ltd IPO by Mr. Jyoti Roy, Angel Broking Ltd
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Below is quote on Aptus Value Housing Finance Ltd IPO by Mr. Jyoti Roy - DVP- Equity Strategist, Angel Broking Ltd
Aptus Value Housing Finance Ltd made a tepid listing on the bourses and closed below the issue price on the first day of trading largely due to negative market sentiments. However the issue received good response and was subscribed by 17.2x due to strong demand from QIB and NIB investors. We had given a SUBSCRIBE rating to the IPO from a long term perspective and expect the company to do well in the long run given consistent strong financial performance, industry leading return ratios and good asset quality. Despite the tepid listing we would recommend investors to hold on the positions from a long term perspective as we believe that the company has got strong fundamentals and should do well once the volatility in the market subsides.
Above views are of the author and not of the website kindly read disclaimer
Tag News
On the higher side, immediate resistance is seen around 36000 - 36200 levels - Angel One
