Shares of Latent View Analytics Ltd. are up another 6.7% on Tuesday after rising nearly 10% during Monday's trading session. The stock has gained in four out of the last five trading sessions.

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With Tuesday's move, the stock is trading at the highest level in 19 months.

Today's trading session has already seen nearly 80 lakh shares already being traded, compared to the 20-day average of 1.65 lakh shares at this time of the day. Monday's session had also seen 66 lakh shares of the company being traded.

Latent View Analytics is the most subscribed IPO in the history of India's primary markets. The ₹600 crore IPO, which opened in November 2021, was subscribed 326.49 times. A portion for the retail investors was subscribed over 120 times.

From its IPO price of ₹197, the stock made a peak of ₹755 within a few days of its listing but has underperformed since then. At current levels, the stock is 37% below its peak but remains 142% above its IPO price.

Latent View operates as a digital analytics firm. The company enables its clients to predict new revenue streams and anticipate product trends and popularity through digital consumer data and analytics. It is also the only listed company in the AI and data analytics space.

For the September quarter, Latent View reported a drop of 8.6% in its quarterly net profit compared to the same period last year, while its revenue grew by 17.6%. EBITDA or earnings before interest, tax, depreciation and amortisation fell by 17.6%, while the EBITDA margin fell by 840 basis points from last year.

As of September 30, the company had cash and equivalents worth ₹644.2 crore on its books.

Latent View was also highlighted on CNBC-TV18's dealing room chatter on September 1, where dealers indicated that the street is expecting a corporate development to take place within the company soon. They also mentioned that an influential HNI investor is an active buyer in the stock.

Technical analyst Mitessh Thakkar told CNBC-TV18 that Latent View is another stock that is just about to make higher highs on the long-term charts. "This stock also appears to have started a long-term upmove. We are looking at targets of ₹600+ in the coming months and suggest accumulating with a stop below ₹400," he said.

"Latent View witnessed a small double bottom breakout on daily and weekly charts which pushed the stock price towards the previous swing high level of ₹470. The stock is now trading above this hurdle and a close above ₹470 will result in a fresh swing breakout. Traders who bought the stock are advised to hold with a stoploss placed at ₹460. Traders who wish to buy stock are advised to do so once the stock closes above ₹470. Once confirmed, this breakout can push the stock towards ₹510," said Gaurav Bissa of InCred Equities.

Promoters of Latent View hold a 65.76% stake in the company, while the rest belong to public shareholders.

Shares of Latent View Analytics are trading 6% higher at ₹477. The stock is up 30% so far in 2023.

(Edited by : Amrita)

First Published:Nov 21, 2023 10:55 AM IST