Upper Tamakoshi hits the positive circuit today; At what price will it be stable?

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Upper Tamakoshi’s IPO has performed exceptionally well since its trading has commenced in the secondary market.

The share was listed on open range from Rs 74.90 – Rs 224.70 on January 13, where the first transaction started at Rs 224. On the second day, the stock registered an increment of 10% with 14,295 units being traded. Moreover, due to the technical fault of NEPSE, the stock was able to record a 50% rise in the price but which was canceled.

Today, the share price touched the positive circuit within 10 minutes of the start of trading in the secondary market. As of today, the last traded price of UPPER stands at Rs 258 which was registered after an increment of 23 points or 9.79%.

At the end of the trading period, there were buy orders for more than 9.62 lakh units at Rs 258. This clearly shows that the price of the stock will increase in the coming days as well. The rate at which the price of the share has been rising is likely to take the price above Rs 300 in a short interval.

Will it be stable then? It must be seen until when the craze for Upper Tamakoshi continues. It should also be kept in mind that more than 250 transactions had been completed yesterday at Rs 336. It indicates the willingness of the investors to purchase the shares of Upper Tamakoshi. The IPO of UPPER has surely provided what was expected from it and also promises to deliver more.

 

Source : ShareSansar