Devyani International Shares: This stock is in trend now, many people bought the shares in IPO and even listing also happened at a 56% premium. Now the arising question in the people’s mind, what next? Should I buy more, hold, or sell the shares?
Devyani International is the largest franchisee of Pizza Hut, KFC, and Costa Coffee looks positive in the short period. Many analysts are bullish on the stock and looking for a target of Rs.200 in the next 6-8 months.
People who bought in IPO – You can book profit by selling the stock or if you are a long-term player you can sell 70% of shares and hold 30% for long-term gains.
People who want to have fresh positions – Currently the stock is listed at a premium price few days the stock can move up but definitely profit booking will happen in the stock after some time, that is the right time to take the fresh position. You can follow buy on dip strategy.
Devyani International’s initial public offering closed on August 6, 2021, and has been subscribed 116.71 times. The initial public offering valued at Rs 1,838 crore received offers for 13,13,77,91,700 shares compared to 11,25,69,719 shares offered.