Today in the stock market: Despite market predictions, Shree Tirupati Balajee (NSE: BALAJEE) share price was higher than expected when it was first sold on the Indian stock market – 8.50% higher to be exact. It started trading at ₹90 per share on the NSE and ₹92.90 per share on the BSE. There was strong interest in the shares which pushed the price to ₹94.50 per share on NSE and ₹97.54 each on the BSE. In other words, the price increased by 5% within a few minutes of being made available for trade, which is referred to as the upper circuit limit.
According to experts, those who want to make profits quickly can do so by setting a maximum loss they are okay with, in this case ₹91 per share. They believe it’s quite likely that the price will hit the upper circuit, particularly by Friday. They advise those who had the luck of getting shares to sell and make a profit now. But if you’d rather wait and see, then consider holding your shares as the company’s earnings have been increasing – by 10.2% to be exact, from Rs. 4,442 million in FY22 to Rs. 5,397 million in FY24.
Shree Tirupati Balajee’s share price future
If you’re a shareholder who only bought shares for a quick profit, Arun Kejriwal, Founder of Kejriwal Research and Investment Services, advises you to set a limit of Re 1 above the lowest price for tomorrow. Because for the next ten sessions, you won’t be able to buy and sell the shares within the same day, the price might go circuit-to-circuit for a while. So, by setting the limit at Re 1 above the lower price, you might earn an extra 5% profit, if the price hits the upper circuit on Friday.
If you’re a young investor, Akriti Mehrotra, a Research Analyst at Stoxbox, advises you to hold your shares because Shree Tirupati Balajee Agro Trading Co. Ltd has been showing consistent financial growth despite regulatory changes, uneven supply of raw materials, and regional manufacturing concentration. The company’s earnings have been increasing – by 10.2% to be exact, from Rs. 4,442 million in FY22 to ₹5,397 million in FY24.
Considering its recent profit/earning (P/E) ratio of 14.5x based on FY24 earnings, the company’s shares are a good value for investors. So, for those who got shares, it’s advisable to hold onto them for now, as per the StoxBox expert’s conclusion.
