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.