Latent View Analytics stocks continue to outperform, shares up 20% — Should you make fresh entry?

Latent View Analytics stocks made a dream debut on the bourses on Tuesday , November 23, 2021, and has been carrying the momentum further. Shares of analytics services provider zoomed to 52-week high of Rs 695 per share in intraday early trade on the BSE on Thursday. Latent View Analytics stocks were listed at Rs 530, a premium of 169%, per share on the BSE on Tuesday.

At around 1.30 pm on Thursday, shares of recently listed Latent View Analytics were trading with a gain of over 16% or Rs 95 to 680.50 per share on the BSE. The shares have touched 52-week low of Rs 462 on BSE on November 23, the day of the listing.

See Zee Business Live TV Streaming Below:

Earlier on Wednesday, the shares have touched upper circuit of Rs 586.30 a share on the same exchange.  

Talking about the company, Manoj Dalmia, Founder and Director- Proficient Equities Limited, said the company has reported a revenue of Rs 305 Cr and profit of Rs 94 crore in FY21. "It has healthy fundamentals with a return on net worth of 21% for 3 years and has a strong relationship with fortune 500 companies," he said.  

Road Ahead

Proficient Equities Limited founder, on road ahead for the analytics services provider company, said the company has plans to use Rs 147 core for growth initiatives, Rs 82.40 core for working capital requirements and Rs 130 crore for investments to strengthen the capital base.

What should investors do in current situation?

The expert said that those planning to make an entry in the stocks should wait and evaluate the company first. "One should wait for consolidation or quarterly earnings to get the price estimate," suggested Manoj Dalmia.  

Ravi Singh, Vice President & Head of Research ShareIndia, recommended advise investors to book profit in 50% positions at current level and wait for 650 levels for the rest of the positions. "The company’s revenue model is stable and recurring, hence investors may benefit in the long run. The company holds huge potential for growth.One must hold this share for long term. Value will be at least double in three years from here," said Ravi Singhal, Vice Chairman, GCL Securities Limited.  

Record subscription 

Earlier on November 12, the analytics services provider scripted history when it clocked 326.47 times subscription. Against issue size of 1,75,25,703 shares, bids were made for whooping 5,72,14,30,100 shares. Non-Institutional Investors topped the bidding with 850.66 times subscription.