I had applied in 3 applications for around 1.9 lac, but no allotment. I am expecting 66 shares in this and hoping to make atleast 3k in this. Though GMP is in discount, don't worry. Don' sell in panic, as all pharma stocks are trading in premium. If u have applied for 1 lac or 2lac, sell 70% of u'r holdind if u r not comfortable at opening. But i expect it to do well as it is ahmedabad based company. Previously i had sold prakash steelage at opening at 120 and it closed at 215 rs though it hit low of 108 at opening. Its issue price was 110 rs. I was very disappointed. I expect clairs to do well.
Claris would soon settle his case with USFDA, it will contiune to dominate its sector and would remain number in 1. Margins with improve with economies of scale in expansion of existing set up pipelined out of interest free IPO money. Though in a market no one can predict furture ... but I believe that Claris may touch 440 by MAY 2011. STOP LOSS to the stock is 245.
Good move to reduce the price band by 58 RS from 298 to 235 and now fixing at the lower band of 228 Rs, promoters have thanked their investors. Hold on guys, something is definitely in store on listing day.
Even in the worst circumstances it should not touch stop loss of Rs 245. By fixing price at 228 promoters has given their investor friendly intentions. One may book profit above Rs 310.
Promoters creditability should attract secondary market premium ..as Arjun Handa is more trustworthy and would do everything to attain good name for his family ... failure is always a bed for success ..Handa family has aleady tasted failure and now they are able to manage their business well. Claris will soon manufacture injectible drugs..This 300 crore would soon be 600 crore.. Its profit is 130 Cr and it should command a market capitalisation 1500-1800 crores.