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The Relative Strength Index of the stock stood at 65.09 on Friday.

The stock quoted a 52-week high of Rs 1431.5 and a 52-week low of Rs 1092.0.

The Relative Strength Index of the stock stood at 50.03 on Friday.

The analysis showed that about 11 stocks, with a market capitalization of minimum Rs 500 crore, have turned multibaggers so far in FY24 after clocking more than 40% losses in FY23.

The IPO also includes an offer for sale (OFS) segment of up to 1.72 crore equity shares. The price band for the issue will be announced soon. Under the OFS, TPG Asia VII SF Pte Ltd, a US-based private equity firm, which holds a 20.99% stake in RR Kabel, will be selling some of its stake in the company.

A total of 703,084 shares changed hands on the counter till 11:16AM (IST).

While the positive sentiments are driving the shipping stocks, the latest trigger was the company signing a Master Ship Repair Agreement (MSRA) with the US government represented by NAVSUP Fleet Logistics Center (FLC) Yokosuka.

Analysts advised investors to subscribe to the IPO over fair valuations, robust order book, and strong execution capabilities with vast industry experience.

“The majority of the pipeline of hotels that are expected to open are not in the top 10 key metros, as per a report done by Harvard Consulting. More than 50% of the pipeline is in tier two, tier three cities, that means new destinations. If rates improve, the flow through improves, and if the flow through improves, obviously the profitability and cash flows improve.”