Indo-MIM shares surge over 60% to ₹776.90 after IPO
Business
Indo-MIM's stock has been on fire since its debut, closing at ₹776.90 on Friday, up over 60% from its IPO price of ₹485.
The company's strong start, with shares opening well above the issue price, is thanks to big interest from major investors and Indo-MIM's reputation as a global leader in Metal Injection Moulding.
Analysts advise booking profits, ₹595-600 stop-loss
Analysts are urging some caution despite the hype. They recommend booking some profits and setting a stop-loss between ₹595 and ₹600, just in case things cool off.
Indo-MIM's massive ₹3,811.21 crore IPO drew plenty of attention because the company supplies high-tech parts for cars, planes, and medical devices around the world.