Uniparts India share price tanks 7% on debut day: What should investors do next?

Uniparts Share Price: After a tepid market debut, engineering systems and solutions provider Uniparts India's share price on Monday closed around 7 per cent lower to Rs 537.6 and Rs 537 per share on the NSE and BSE, respectively, as compared to the issue price of Rs 577 apiece at the upper end.

The stock concluded debut trading near the day's low of Rs 536.5 and Rs 536.15 apiece on the NSE and BSE, respectively.

Earlier in the day, shares of Uniparts India were listed at Rs 575 a share, down 0.34 per cent lower on the BSE and NSE. It later fell 6.58 per cent to Rs 539. The company’s market valuation was at Rs 2,423.68 crore on the first day of trade, according to data available on the BSE website.

Santosh Meena, Head of Research, Swastika Investmart, said that the company enjoys a healthy financial position with continuous growth in revenue and profit and improving margins.

"Investors are advised to maintain their stop loss at Rs 535 per share," Meena said.

The Initial Public Offer (IPO) of Uniparts India was subscribed to 25.32 times earlier this month. The IPO of up to 1,44,81,942 equity shares had a price range of Rs 548-577 per unit.

The Initial Public Offer (IPO) of Uniparts India was subscribed 25.32 times earlier this month. The IPO of up to 1,44,81,942 equity shares had a price range of Rs 548-577 per unit.
Uniparts India is a global manufacturer of engineered systems and solutions.