RateGain Travel Technologies shares made a weak debut today at Indian bourses as the public issue listed on NSE at ₹360 levels, around 15.3 per cent lower from its issue price of ₹425 per equity share. However, RateGain share price made some recovery after listing and made its intraday high of ₹383 per share on NSE. According to stock market experts, there can be some more downside in the stock in coming sessions and allottees should exit their position on any bounce back from current levels.
Stock market experts said that balance sheet of the company is under stress due to Covid-19 pandemic and there can be some more decline in the counter in upcoming sessions. They advised allottees to exit from the position on any bounce back from current levels and re-enter at around ₹300 to ₹322 per share levels.
Speaking on RateGain share price outlook; Ravi Singhal, Vice Chairman at GCL Securities said, “The company has incurred loss due to Covid-19 pandemic and there can be some more selloff taking place in the counter. So, my suggestion to allottees is to exit their current position on any bounce back and re-enter at around ₹300 to ₹322 levels maintaining stop loss at ₹277 levels.” Ravi Singhal of GCL Securities went on to add that those who missed to get RateGain shares during allotment they can also buy RatGain stocks at around ₹300 to ₹322 levels for 3-6 month target of ₹425. However, Singhal advised them to maintain the strict stop loss at ₹277 levels.
Echoing with Ravi Singhal’s views; Parth Nyati, Founder at Tradingo said, “For short-term investors, a stop loss of ₹325 should be put in place, while long-term investors are encouraged to hold it. When things return to normal, the company should show great growth potential. Investors looking for buying opportunities should watch for a decline of 25 to 30 per cent in the stock price.”
Santosh Meena, Head of Research at Swastika Investmart Ltd said, “Long term outlook of the company is promising therefore long-term investors can stay invested while those who applied for listing gain can keep stop loss at ₹330 levels. New investors can look for entry opportunities at 25-30 per cent correction from current RateGain share price.”