Tata Tech lists at 140% premium; Should you buy, sell or hold the stock?

The handsome gains were expected due to the robust demand for the IPO, which was subscribed 69 times against the shares on offer

The automotive engineering service provider Tata Technologies made its stock market debut with a bang on Thursday, far exceeding expectations on Dalal Street. 

The stock listed at Rs 1,200 on the BSE, more than doubling investors' money. This was a premium of 140 per cent over the issue price of Rs 500.

Just prior to its debut, the share was commanding a premium of 86 per cent or Rs 430 in the grey market. 

The share extended the rally and touched an intra-day high of Rs 1,400, up 180 per cent over the issue price. 

The handsome gains were expected