Shares of JNK India made a strong Dalal Street debut on Tuesday and the stock saw some solid demand even after the listing, which pushed the overall gains further higher. However, the strong demand at Dalal Street leaves investors asking if they should book profit at the counter or there is more steam left in it. JNK India shares were listed at a premium of about 50 per cent to Rs 621 on NSE and at Rs 620 on BSE, compared to its issue price of Rs 415. However, the stock surged another 15 per cent post listing to Rs 712 on its maiden trading session and took the overall gains to 71.5 per cent above the given issue price. Market participants believe that the stock has delivered handsome gains to investors and they should mostly book the profits. However, those who are holding it for a longer-term should keep a stop loss to protect their wealth. However, at the current juncture, the stock is fully priced and new buying should be avoided, they advise. JNK India defied even optimistic pre-listing forecasts with a spectacular debut on the stock exchanges, said Shivani Nyati, Head of Wealth at Swastika Investmart. This impressive listing significantly surpassed the anticipated 30 per cent premium signaled by the grey market, underscoring the overwhelming investor confidence in JNK India's future potential, she said. "While the initial surge might be followed by some volatility, the strong fundamentals and positive outlook suggest long-term potential. Existing investors may hold their shares with a stop loss at 560 and monitor the performance closely," Nyati added. The IPO of JNK India was open for bidding between April 23 and April 25. The company sold its shares in the fixed price band of Rs 395-415 per share with a lot size of 36 shares. The company raised a little more than Rs 649.47 crore via its primary offering, which included a fresh share sale of Rs 300 crore and an offer-for-sale (OFS) of up to 84,21,052 shares. Shares of JNK India opened much higher than market expectations on the bourses, said DK Mudaraddi, Research Analyst at StoxBox, who attributed the listing gains to its position at the forefront of the heating equipment sector, poised to leverage the growing demand within the oil and gas industry. "However, following strong listing, our sense is that it would be prudent to book profits at these levels where the valuation looks stretched. We advise investors to reconsider the company at lower levels and closely track the performance over the next few quarters," he suggested. The issue was overall subscribed a little more than 28.13 times. The quota for qualified institutional bidders (QIBs) was booked a solid 75.72 times The quota for non-institutional investors was subscribed 23.26 times. The portions reserved for retail investors saw bidding for only 4.11 times during the three-day bidding process. The strong listing and sustained momentum reflect investor confidence in JNK's brand equity, growth prospects, and ability to capitalize on the government's electronics manufacturing push, said Atul Parakh, CEO at Bigul, who also warranted some caution after sharp run-up. "Investors should closely monitor JNK's earnings and expansion plans before taking any fresh positions at elevated levels. While the long-term outlook seems promising, investing prudently after thorough due diligence is advisable," he said. JNK India, which was incorporated in 2010, is engaged in the design, manufacture, supply, installation, and commissioning of process-fired heaters, reformers and cracking furnaces. IIFL Securities and ICICI Securities are the book running lead managers of the JNK India IPO, while Link Intime India is the registrar for the issue. Tarun Singh, Managing Director at Highbrow Securities said that JNK India has healthy financials to demonstrate its value but also made the strategic decision for reasonable valuations compared to peers. This approach led to a superior valuation that was more appealing for investors to endorse, he said.