On March 25 the share prices of Laxmi Organic moved up despite weak market performance. There rise in share price was about 34 percent.
According to the expert suggestion, investors should think for long-term investment also the market is bullish. Yet, they suggested booking the profits.
The advice directed the allotted investors to book the profits on a listing day. For the non-allotted investors, the advice was to wait for a better price.
The high intraday price of the share was Rs 174.50. Whereas, the intraday low price was Rs 143.
The market capitalization amounts to Rs 4,457.22 crore.
A Laxmi Organic Industries LTD is a leading manufacturer of Specialty Intermediates and acetyl intermediates. The company is leading the market for over three decades.
It started its operation in 1989 with headquarter in Mumbai. Its parent group is the Goenka Group.
The company is the top exporter of ethyl acetate. The market share contribution is 30 percent.
There is a chance of high volatility in the market. Hence the experts recommend booking profits on a 75 percent allotment. Investors can hold the remaining share.
Adding, the company may perform well in the future. Therefore, investment in the company is beneficial in the long-term perspective.
The company generated Rs 600 crore through a public offer held between March 15 and 17.
As per the reports, the company also entered into an agreement of selling agro-intermediate to a large crop sciences company. Consequently, the company will earn sustainable revenue in the future.
Earlier, the company raised Rs 300 crore through a fresh issue of share with an aim to meet the working capital requirements.
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