HomeFinanceLatent View Analytics rallies for 3rd straight day after listing

Latent View Analytics rallies for 3rd straight day after listing

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Latent View Analytics advanced on Thursday for the third consecutive day following its stellar listing on the bourses. The stock gained as much as 20% intra-day to hit a record high of ₹702.35 on the BSE. The stock has rallied more than 256% against its issue price of ₹197 because of sound fundamentals of the company and strong investor appetite during the IPO.

The stock price has jumped more than three times since its listing on November 23. The company also became the third-best debutante in the year after Sigachi Industries and Paras Defence and Space Technologies, listing at ₹530.

The public issue of the leading data analytics company was subscribed 326x. Strong management, no apple-to-apple peers and increasing margins are the key drivers.

However, retail investors should avoid the stock at current levels and should wait for the next quarter results or significant dips to accumulate further, according to analysts.

Latent View Analytics serves clients across the US, Europe and Asia. The company posted a profit of ₹91.46 crore in FY21 while revenues stood at ₹305.88 crore. The company earned 92.8% of its revenue from the US and 1.85% from the UK.

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