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Go Fashion shares listed 90% over issue price on debut
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SME Times News Bureau | 30 Nov, 2021
Shares of Go Fashion made its debut on the exchanges on Tuesday with a
premium of 90 per cent over its issue price of Rs 690 at Rs 1,316.
On the listing day, the shares of the company settled at Rs 1,250.
"As
the number of working women is increasing along with evolving fashion
trends, it is expected that the company can have a strong growth
momentum," said Santosh Meena, Head of Research at Swastika Investmart.
"The
company has a strong management team with a mixed bag of financials and
it is expected that it may perform well," Meena added.
The
investors who got the allotment can put a stop loss of Rs 1,000 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, Meena
added.
Founded in 2010, Go Fashion is a women's wear brand.
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