Shyam Metalics, Sona create proper debuts

Mumbai: Shyam Metalics and Sona BLW Precision Forgings made proper trading debuts on Thursday with both the stocks ending 22-25 per cent above their self-discipline costs.

While Shyam listed on an optimistic explain, Sona BLW witnessed a tepid opening but without warning picked up perambulate in the direction of the trading shut.

Blackstone-backed Sona BLW became listed at Rs 302.40 on BSE, a 3.92 per cent top price over its self-discipline worth of Rs 291. The stock however ended at Rs 362.85, a 24.69 per cent greater than the offer worth. The Rs 5,550 crore offer of Sona BLW became subscribed 2.33 instances final week.

Shyam Metalics and Vitality purchased listed at Rs 380, a 24.18 per cent top price over its self-discipline worth of Rs 306 and ended at Rs 375.85, at 22.83 per cent top price to present worth. Shyam’s Rs 909-crore IPO became subscribed 121 instances.

While most analysts anticipated 20-25 per cent itemizing beneficial properties in Shyam Metalics, Sona BLW’s performance on day one on the bourses got right here as a surprise because the stock became trading at a gray market top price of fine Rs 5 per share.

“We adore Sona BLW given its presence within the like a flash-rising global electric automobile market, diversified portfolio all the contrivance through lessons and robust financials,” acknowledged Hemang Jani, head equity strategist, Motilal Oswal Financial Services and products. “Despite the truth that the valuation at 74 instances appears to be fully priced in, given its thrust in like a flash-evolving EV internet page both in India and globally, the market would grab to present top price to such emerging increase story.”

The market capitalisation of Sona BLW stood at Rs 21,165 crore on Thursday, the third perfect within the sphere. The market worth of Motherson Sumi and Bharat Forge are at Rs 74,554 crore and Rs 34,275 crore respectively.

Shyam Metalics has a market capitalisation of Rs 9,587 crore.