Tonbo Imaging share price continued its upward rally for second session straight on Tuesday. The stock opened at ₹1,222 per share on NSE today, as compared to previous close of ₹1,212.85 on Monday and surged over 4% to touch an intraday high of ₹1,275 on 27 October.
Tonbo Imaging shares jumped over 17% during the intraday session on Monday after strong listing on Friday last week. The stock delivered a strong debut on 23 October, listing at ₹1,160 on the NSE, a 65.71% premium over its issue price of ₹700 per share. On the BSE, it opened at ₹1,162, registering a 66% premium.
The stock has since surged nearly 90% above its IPO price, highlighting robust investor interest following its listing.
According to Mahesh M Ojha, VP Research & Business Development at Kantilal Chhaganlal Securities, Tonbo Imaging’s valuations appear to be on the higher side, which may limit near-term upside.
“The company’s long-term prospects look positive, supported by its growth potential. Investors with a two- to three-year investment horizon can consider buying and holding the stock, as the company appears well-positioned for growth over the long term. That said, investors should remain mindful of the elevated valuations and the risks associated with them,” Ojha added.