Today was those days where you just want to try out something differently. But the problem is that whet you think doesn't go as planned always. To give you all a context, I have applied for an IPO of Exicom tele-systems to get good profit on listing. The IPO was subscribed around 124 times for retail alone. That means I have to become 1 lucky person out of 124 people to get the allotment.
PC: Exicom.in
And I was not lucky enough to get the allotment. So I thought of buying it on the listing day I.e. today to get some good profit like 10 to 15%. The share listed more than 100% profit i.e at Rs 265 and it came down heavily. So I bought it around Rs 230 hoping to make around 5 to 6%. At one point it went upto 3% but then it came down by 3-4% and I have not sold it. So now I became a long term holder for the stock because my intraday trade went into loss and I didn't sold. So I hope it will give good returns in the future.
Now let's see some of the good things about this company which actually makes sense to keep its share for long term. It actually operates on electrical vehicle supply equipment and critical power. And with all the EV craze, it can actually give good returns in the future. It also works on the EV charging infra which is again a big thing in the future.
Now the future is actually good for the EV charging infra which will grow at a CAGR of more than 20%. They are also building a nee EV plant which is due in 18 months. So I can wait for 1 year to 2 year to see the real gain in this stock. Exicom has around 16% market share in DC Power Systems market in India.
Thus we can say that it is actually a good share to be in the future. Now what will be my strategy. I will actually wait for 20% profit in 1 month. If I don't get then I will keep it for long term which can give me quite a good profit in the future I.e. 1 to 2 years down the line.