- After hitting an all-time high of Rs 1,272 on October 25, the stock fell to Rs 774.
- At what level will Paras Defense shares turn rock bottom after a fall of 40 per cent from all-time highs?
- The shares offered at Rs 175 made the investors rich on the day of listing.
On November 08, the stock opened at Rs 824. However, at the time of calculation, it had a lower circuit of 5 per cent, and was priced at Rs. Arrived at 774. In this way, the stock, which has been falling for the last few days, today declined by Rs 40.75. In this way, the stock has fallen by 39 percent in the last two weeks as compared to the highest level of Rs 1272.
The IPO of Paras Defense came in September. The company had offered the shares at an offer price of Rs 175 only. The IPO of a company working in the defense sector got a tremendous response. Especially heavy on its retail category. Despite the strong listing, the stock continued to rally. For some time after the listing, it was a buyer’s circuit only. In such a situation, even those who did not realize the stock in the IPO, they could not buy shares from the open market for several days.
On the other hand, the stock, which was listed on October 1, continued to rise and touched a low of Rs 668 on October 11. After reaching the level of Rs 603 on 13 October, it again saw a bounce, which remained unchanged till 25 October. During this, a 100% jump was seen in Paras Defense. It also touched an all-time high of Rs 1,272 on October 25.
However, after reaching the all-time high, the stock is again selling. It has been in a steady decline since October 25, and often has a lower circuit. No one can say where the falling Paras Defense will go and make rock bottom. Since there is no other listed company operating in the same sector in which Paras Defense operates, it is not possible to compare.
Looking at the pace at which Paras Defense was growing, experts had earlier warned investors to take entry at higher levels. In the initial days of listing, some experts also suggested that the buying craze should subside, and once the volatility normalises, it can be considered for entry below Rs 500.
Disclaimer: The above information is for information only, it is not intended to advise you to buy or sell any shares. Be sure to consult your financial advisor before making any investment.