Shares of BillionBrains Garage Ventures Ltd, the parent company of online stock investment platform, were listed on November 12 and since then the company’s shares have seen a huge surge. Within five trading days, the stock has made investors rich. It had risen 90% from its IPO price, but today it has touched the lower circuit of 10%. Shares of BillionBrains Garage Ventures Ltd fell 10% to close at ₹169.94 on Wednesday. However, the stock is still up 69.94% from its IPO price of ₹100. Experts have advised to sell the stock and said that it may fall further. BillionBrains Garage’s ₹6,632.30 crore IPO was open for subscription from 4 to 7 November. The IPO was listed on 12 November.
What do experts say about Grow?
Kranti Bathini, director of equity strategy and market expert at Wealthmills Securities, said Grow’s current valuation is too high. He further said that from a short to medium term perspective, Groww appears overvalued. As a digital investment platform, it has made a remarkable impact in the financial services sector. Investors should keep an eye on the company’s earnings over the next few quarters. IPO investors may look to book some profits at current levels.
This stock may fall to ₹120
MasterTrust Chief Research Officer Ravi Singh said the stock is not performing well on the charts and could fall to ₹120. He suggested that investors should consider exiting at current levels.
It is expected to fall to ₹133
SEBI-registered expert AR Ramachandran also advised investors to book profits and said that the price is likely to rise to Rs 133. The company, which was listed on November 12, will announce its September quarter results on November 21, which may give a new perspective on the stock.