This IPO takes everyone by surprise by jumping 8 per cent and hitting a fresh all-time high! Do you own it?

The calendar year 2022 has been a mixed bag for IPOs

The calendar year 2022 has overall been a dicey one for investors across the world. Moreover, the IPO market that was buzzing & rollicking in the calendar year 2021, is also feeling the pinch as the central banks across the globe are aggressively tightening their monetary policy, which has to a certain extent, put a lid on the excessive liquidity that was seen flowing in riskier assets.   

The calendar year 2022 has been a mixed bag for IPOs as some of them delivered handsome returns while goliath IPOs like Life Insurance Corporation of India (LIC) put up a dismal show and turned out a case of ‘much ado about nothing’. As on listing day itself, the insurance behemoth slipped 7.75 per cent.   

However, last month, the IPO of Aether Industries made an exciting debut on the exchanges as it zoomed more than 20 per cent on the listing day itself. Thereafter, in the next 22 days, the stock formed a probable IPO base on the daily chart, which had a depth of nearly 12 per cent. Once the stock broke out of this IPO base, it went from strength to strength while on Friday, it touched a fresh high as it jumped over 8 per cent and touched the level of Rs 933 on NSE.   

Aether Industries has a technology-oriented business model and sells innovations in chemistries & technologies. With competencies in eight chemistries as well as technologies, it has enabled the company to effectively build all three of its business verticals i.e. large-scale manufacturing, contract manufacturing, and contract research & manufacturing services (CRAMS) within a span of six years of its operation.   

Interestingly, as per the reports, the company is more than doubling its manufacturing capacity by the end of CY23. With this, it will not only be able to fulfill the demand of its existing and potential clients for the existing product but also, would set up a stage to launch new products.   

Meanwhile, the stock has surged over 18 per cent on an MTD basis.   

Do you hold this stock or, if you’re already holding, would you continue holding it or, book profits after this sharp run-up? Enlighten us with your views in the comments section.