Unicommerce eSolutions stock climbs another 16% to new peak, up 144% from its IPO price

Shares of Unicommerce eSolutions surged 16% in early morning trade today, reaching an all-time high of ₹264 per share, following a 20% gain in the previous session. This brings the stock's cumulative two-day gain to 39.24%.

Impressive IPO Debut

The shares debuted on Dalal Street on August 13, with an impressive listing gain of 117.59%, opening at ₹235 per share compared to the IPO price of ₹108. The stock continued to climb on its first day in the secondary market, hitting ₹256.

Current Stock Performance

With today's intraday high, the stock is now trading 144.5% above its IPO price. Following this stock's bumper listing, analysts have maintained a positive outlook on the stock.

Analysts’ Recommendations

Prashanth Tapse, Research Analyst and Sr. VP of Research at Mehta Equities, believes the company deserves a premium valuation multiple, given its strong position to capitalize on the growing e-commerce enablement sector. He recommends that investors who received allocations should continue to 'HOLD' Unicommerce eSolutions shares with a long-term perspective.

Shivani Nyati, Head of Wealth at Swastika Investmart, also advises investors who wish to hold the stock to continue with a stop-loss set at ₹210 per share.

Company Overview

Unicommerce eSolutions provides a comprehensive suite of software solutions designed to streamline e-commerce operations post-purchase. Their offerings include systems for warehouse and inventory management, multi-channel order management, omnichannel retail management, a seller management panel for marketplaces, logistics tracking, courier allocation, and payment reconciliation.

As of March 31, 2024, the company boasts 101 integrations with logistics partners and 11 integrations with various ERP and POS systems, facilitating seamless supply chain operations for its clients.

The company's Order Management System (OMS) has processed 791.63 million order items and supports 131 marketplace and web store integrations for automated order data flow.

Their diverse clientele spans multiple industries, including fashion, electronics, home and kitchen goods, FMCG, beauty, sports, fitness, nutrition, health, pharma, and third-party logistics. Notable clients include Lenskart, SuperBottoms, Zivame, Chumbak, Paragon, PharmEasy, XpressBees, Shiprocket, Mamaearth, Sugar Cosmetics, and Cello, as detailed in the company's DRHP report.

Since the fiscal year 2023, the company has also expanded its international presence, serving 43 enterprise clients across seven countries, mainly in Southeast Asia and the Middle East, as of March 31.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.