Go Fashion share makes dream debut at NSE, BSE. Should you buy, sell or hold?

According to stock market analysts, lucky bidders who got Go Fashion shares through allotment are getting 90 per cent return on their money. So, they should book 50 per cent profit and wait for immediate ₹1500 per share target. In case it fails to achieve its ₹1500 target and comes around ₹1050 to ₹1100 per share levels, they should re-enter for the target of ₹1500. For those who missed to get Go Fashion shares via allotment, they are also advised to take fresh position at ₹1050 to ₹1100 levels for long-term target of ₹2500 to ₹2600 per share levels.

Advising Go Fashion shareholders to book 50 per cent profit; Ravi Singhal, Vice Chairman at GCL Securities said, “Those who got go Fashion shares via allotment should book 50 per cent profit and get their principal back in their pocket. They should wait with the rest 50 per cent for immediate target of ₹1500. For those fail to get Go Fashion shares through allotment are advised to wait for profit-booking and buy at around ₹1050 to ₹1100 levels for immediate target of ₹1500 maintaining stop loss at ₹920. In case, profit-booking triggers before achieving ₹1500 target, those who book profit at current levels are advised to re-enter at ₹1050 to ₹1100 levels for ₹1500 per share target in short term.”

Unveiling strategy in regard to Go Fashion shares; Santosh Meena, Head of Research, Swastika Investmart Ltd said, “The IPO got its debut at ₹1310 on NSE with a gain of near 90 per cent against its issue price of ₹690. The aggressive investors who got the allotment can put a stop loss of ₹1000 and hold the stock with a long-term view, while safe investors can book the profit and wait for new buying opportunities at the lower levels.”

Santosh Meena of Swastike Investmart said that Go Colors has a sturdy brand value with fluctuating revenues while the company moved into losses in FY21. However, as the number of working women is increasing along with the evolving fashion trends it is expected that the company can have a strong growth momentum. The company has a strong management team with a mixed bag of financials and it is expected that it may perform well.

Asked about the long-term Go Fashion share price target, Ravi Singhal of GCL Securities said, “Long-term investors should hold Go Fashion stock for 2-3 years as it is expected to get double from its current price in this period.” He said that in this period, Go Fashion shares are expected to hit ₹2500 to ₹2600 levels.

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