Mumbai, Nov 30, : , Shares of Go Fashion were listed on the stock exchanges Tuesday with a premium in excess of its issue price of Rs 690 at Rs 1,316. The company’s shares settled at Rs 1,250 on the day of its listing.
“As the number working women increases along with the evolving fashion trends, it’s expected that the company will have a strong growth momentum,” stated Santosh Meena Head of Research at Swastika Investmart.
Meena said, “The company has a strong leadership team with a mixed bag financials and it’s expected that it will perform well.”
Meena said that investors who received the allotment may place a stop loss of Rs 1000 and keep the stock with a long term view.Safe investors can book the profit and wait to see if there are new buying opportunities at lower levels.
Go Fashion was founded in 2010 and is a brand that sells women’s clothing.
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