Business

CMS Info Systems got off to a slow start. Should you hold or deposit?

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CMS Info Systems Share Today the Indian stock market has a sluggish start. Cash Management Company’s public issue opened here 220 on the NSE, up nearly 2 per cent from its upper price band 216 per equity share. However, soon after the listing, the share price of CMS Info Systems appreciated. The 250 per share level helps allottees to maximize their listing profits. According to experts, profit-booking can start in any stock, so one should book profits at the current level and look for other better options in the market. However, he added that those who are determined to take a new position at the counter can buy into 200 to for the 215 range 275 to 300 per share target in next 3 to 6 months.

Speaking on the CMS Info Systems share listing; Astha Jain, Senior Research Analyst, Hem Securities, said, “There is nothing wrong with the company, but the sector it belongs to seems to be in overbought position. Hence, keeping in view the short-term time horizon, allottees applying are advised to book the benefits now. Those who had long term vision while applying are also advised to book partial profit and stay invested with a target of 3 to 6 months 275 to In the mind of 300.” He said the shares may come down in the next two to three trading sessions as profit-booking is expected to start anytime.

Santosh Meena, Head of Research, Swastika Investmart Ltd. said, “With the government’s focus on digital payments, we believe that there may be a further decline in the availability and utilization of cash, which may adversely impact the company’s business activities. IPO Listed Against the issue price of 220.20 216 with a premium of 1.94 per cent. Investors who have got allotment can keep a strict stop loss of 200 whereas we recommend investors to invest in other business with high growth potential.”

For new investors who wish to take fresh positions in the counter; Aastha Jain, Hem Securities, said, “New buyers are advised to look for other better options in the chemical and EV segment as they may outperform CMS Info Systems shares over time. But, if someone is committed to taking a position in the counter, I suggest. For such high risk investors to buy in the range 200 to 215 more book profit in 275 to 300 per share range. However, they must maintain a strict stop loss 170 while in this position.”

Advising buy on dips strategy in respect of CMS Info Systems shares; Sumeet Bagadiya, Executive Director, Choice Broking said, “Profit-booking in CMS Info Systems shares can start anytime. Therefore, one should make a deposit on every major fall in the counter from the current levels and hold the counter. 275 to 300 per share target.”

Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.

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Usama Younus

Usama Younus is the owner and super admin of the site he's is an expert in news editing, tech and entertainment magazine management, and articles editing E.T.C.

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