Bansal Wire Shares Soar 33% After Strong Market Debut; What Should Investors Do Now?

Bansal Wire shares jumped 33% after a strong debut on the stock market on July 10, despite weak market sentiment. The shares were listed at ₹352.05 on the BSE and ₹356 on the NSE, a significant increase from the IPO price of ₹256. By 10:50 am, the shares were trading at ₹341.50 on the BSE.

The company raised ₹745 crore from the IPO, which was fully subscribed 59.57 times. The retail category was subscribed 13.64 times, non-institutional investors (NII) 51.46 times, and qualified institutional buyers (QIBs) 146.05 times.

Expert Advice for Investors

Experts believe Bansal Wire has strong long-term growth potential but suggest that current valuations are high. Here are their recommendations:

• Shivani Nyati, Swastika Investmart: Hold shares with a stop loss at ₹321. The company has a strong market position but operates in a highly competitive industry.
• Amit Goel, Pace 360: Book profits now due to the competitive and fragmented market.
• Prashanth Tapse, Mehta Equities: Book profits as valuations are stretched. Despite industry challenges, the company is expected to grow.
• Parth Shah, StoxBox: Hold shares for medium to long-term growth. The company has a diversified customer base and product portfolio, and plans to expand further.

Summary

Bansal Wire’s strong market debut indicates investor confidence, but experts advise caution due to high valuations. Investors should consider both short-term profits and long-term growth potential.