ESDS Software slides 8% after 235% rally from IPO price in 4 days. Do you own any?
ESDS Software Solutions shares fell sharply on Thursday after surging 235% from their IPO price in four sessions. While strong demand for cloud, AI infrastructure, cybersecurity and digitalisation supports the company’s long-term prospects, analysts warn of near-term profit-taking, execution risks and stretched valuations after the stock’s sharp post-listing rally.
ESDS Software Solutions shares experienced a significant 235% rally from its IPO price within just four trading sessions. However, this surge eventually came to an end, with the stock falling 8% on Thursday. The shares dropped to Rs 1,330 apiece on the NSE, after previously hitting the upper circuit in each of the four sessions prior. The stock had listed at Rs 1,334 apiece on Friday, marking an over 76% premium to its IPO price of Rs 757.
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