Vibhor Steel Tubes shares may continue to remain one of the circuit-to-circuit stocks of Dalal Street in near-term, say experts.
Vibhor Steel Tubes IPO listed on BSE and NSE delivering over 180 percent premium. Shares of Vibhor Steel Tubes Limited are listed on BSE at INR 421.
On NSE, Vibhor Steel Tubes share price opened at INR 425 apiece.
The debut of Vibhor Steel Tubes shares saw the newly listed stock extended for its listing to gain further and touch an intraday high of INR 446.25 on NSE and INR 442 on BSE, locking in a 5 percent upper circuit within a few minutes of share listing.
According to stock market experts, Vibhor Steel Tubes shares have been listed at a whopping premium.
Expers said that the Vibhor Steel Tubes is listed in the trade-to-trade category, which could be the possible reason for one-way movement.
However, they maintained that the stock may continue to move either way on a little rise in trade volume. Hence, one should book profit and exit in the current market scenario and wait for the stock to settle down.
Vibhor Steel Tubes share price outlook
Vibhor Steel Tubes share price outlook is positive as it is emerging as a pivotal player in the Indian steel sector.
Demand landscape i robust and India has ambitious national targets for per capita steel consumption.
The qualitative advantages of Vibhor Steel Tubes are its competitive positioning and operational strengths.
Vibhor Steel Tubes has an integrated in-house design, engineering, and execution team, and meticulous control over quality and costs, enhancing its ability to meet client requirements efficiently.
Expecting Vibhor Steel Tubes shares to remain one of the circuit-to-circuit stocks of Dalal Street, analysts believe Vibhor Steel Tubes share price in the trade-to-trade segment with a circuit limit at 5 percent.
Looking at the small size of the stock and the T2T category, Vibhor Steel Tubes share price may move on either side on a little rise in trade volume. So, it may remain one of the circuit-to-circuit stocks.
The stock has already surged 200 percent against its upper price band of INR 151 per equity share. Buy, book a profit and exit is the general consensus.
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