Angel Broking listing: Now, check out Anil Singhvi strategy for investors on this share

Indian stock broking company Angel Investors was listed on stock market today. The share opened on the NSE at Rs 275. The stock has gained by 3.8 per cent since opening and was trading at Rs 285.45 around 11:45 am. Importantly, giving his view, Zee Business Managing Editor Anil Singhvi had earlier advised investors to not put their money in Angel Broking with hopes of making listing gains. 

Angel Broking had launched the Initial Public Offering (IPO) at an issue price of Rs 306 per equity share.  Notably, the issue opened at a discount today. Market Guru Anil Singhvi had predicted a listing below the issue price.

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एंजेल ब्रोकिंग की लिस्टिंग आज

अनिल सिंघवी- इश्यू प्राइस 306 या इसके नीचे लिस्टिंग की उम्मीद... लिस्टिंग गेन के लिए पैसा लगाने वाले निवेशक 306 का स्टॉपलॉस लगाएं...#EditorsTake #AngelBroking #NewListing @AnilSinghvi_ pic.twitter.com/rSxup0BnKf

— Zee Business (@ZeeBusiness) October 5, 2020

The investors who had gone ahead to invest in this issue had taken their own call, the Managing Editor said. The issue was undersubscribed and in such cases it is difficult to predict what will happen at the time of listing, he had added.  

As far as investment strategy is concerned, Anil Singvi today said that his take on this stock is still “avoid”. He provided the reason behind this too - there are not many stock broking companies who have made wealth for their investors.  

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For those investors who had already invested in this stock, the Market Guru advised putting a stop-loss at the issue price to save their investment.