The shares of HP Adhesives Limited were locked in 5 per cent upper circuit on the BSE, soon after making strong debut on the exchanges. HP Adhesives shares were listed on the BSE at Rs 319 per share against its issue price of Rs 274, a gain of Rs 45 per share or 16.42%. On the NSE, shares debuted at Rs 315 apiece, higher by Rs 41 or 14.96%.

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At 12.30 pm, shares of consumer adhesives and sealants maker were locked in 5 per cent upper circuit of Rs 334.95 as it created new 52-week high post decent debut at the bourses. Shares gained Rs 15.95 apiece to touch 52-week high.  

What should investors do? 

As share made a listing in line with street's expectations, should investors book profit or make a fresh entry—What should they do?  

Well, talking about HP Adhesives listing, Santosh Meena, Head of Research, Swastika Investmart Ltd said the company has potential to grow exponentially in the coming years.  

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"The investors who got allotment are advised to keep the stoploss of Rs 300, while new investors can consider Pedilte, which has a long operating history and is the market leader in its field," added Swastika Investmart Ltd Head of Research.  

Earlier, the listing was in line with the expectations of Zee Business Managing Editor Anil Singhvi, who had said shares of Adhesives Limited are expected to list in Rs 325-375 range against issue price of Rs 274.  

"Hold shares with strict stop loss of the issue price (Rs 274)," recommended Anil Singhvi.  

What HP Adhesives do- Business profile  

HP Adhesives Limited, the company offers a wide range of consumer adhesives and sealants such as PVC, cPVC and uPVC solvent cement, synthetic rubber adhesive, PVA adhesives, silicone sealant, acrylic sealant, gasket shellac, other sealants and PVC pipe lubricant which are sold across India.  

It also sells ancillary products like ball valves, thread seal and other tapes and FRP products for drainage and architectural solutions that are distributed along with their products. "As of September 30, 2021, the company’s distribution network comprised of 4 depots situated in Delhi, Kolkata, Bengaluru and Indore and more than 750 distributors who cater to more than 50,000 dealers in India," as per Marwadi Shares and Finance Ltd.