Shares of Unicommerce eSolutions continued to rise, climbing 16% in early trading today and hitting a new high of ₹264 per share. This follows a 20% increase in the previous session, bringing the stock’s total two-day gain to 39.24%.
Strong IPO Debut
The company’s shares made an impressive debut on the stock market on August 13, starting at ₹235 per share, a 117.59% increase from the IPO price of ₹108. The stock continued to rise on its first day, reaching ₹256.
Current Stock Performance
With today’s peak, the stock is now trading 144.5% higher than its IPO price. Analysts remain optimistic about the stock’s future performance.
Analysts’ Views
Prashanth Tapse, a Research Analyst and Senior VP at Mehta Equities, believes that Unicommerce eSolutions deserves a higher valuation due to its strong position in the growing e-commerce support sector. He advises investors who bought shares during the IPO to continue holding them for the long term.
Shivani Nyati, Head of Wealth at Swastika Investmart, also suggests that investors should keep holding the stock but recommends setting a stop-loss at ₹210 per share.
About the Company
Unicommerce eSolutions offers a range of software solutions to help businesses manage e-commerce operations after a sale. Their products include systems for warehouse and inventory management, multi-channel order management, omnichannel retail management, and tools for tracking logistics, allocating couriers, and reconciling payments.
As of March 31, 2024, the company had 101 integrations with logistics partners and 11 integrations with various ERP and POS systems, making supply chain management easier for their clients.
Their Order Management System (OMS) has processed 791.63 million order items and supports 131 marketplace and web store integrations, allowing for automated order processing.
Unicommerce eSolutions serves clients across various industries, including fashion, electronics, home and kitchen goods, FMCG, beauty, sports, fitness, health, pharmaceuticals, and third-party logistics. Some of their well-known clients include Lenskart, SuperBottoms, Zivame, Chumbak, Paragon, PharmEasy, XpressBees, Shiprocket, Mamaearth, Sugar Cosmetics, and Cello, as mentioned in the company’s draft red herring prospectus (DRHP).
Since the fiscal year 2023, the company has also expanded internationally, serving 43 enterprise clients in seven countries, primarily in Southeast Asia and the Middle East, as of March 31.
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