Syrma SGS Technology shares rise after strong debut. Buy, sell or hold?

  • Syrma SGS Technology share price today opened on BSE at 262 and went on to hit intraday high of 295 apiece

Asit Manohar
First Published26 Aug 2022, 11:38 AM IST
Syrma SGS Technology shareholders having short term perspective are advised to book  profit and exit, say stock market experts. Photo: Courtesy Syrma SGS Technology website
Syrma SGS Technology shareholders having short term perspective are advised to book ;profit and exit, say stock market experts. Photo: Courtesy Syrma SGS Technology website

Syrma SGS Technology listed on BSE and NSE at strong near 19 per cent premium. Syrma SGS Technology share price opened on BSE at 262 and went on to further ascend to its intraday high of 295 apiece, delivering around 35 per cent listing gain to its allottees as the public issue was offered at a price band of 209 to 220 per equity share.

According to stock market experts, those who had applied for the listing gain should book profit and exit as they are already getting a handsome gain on their investment. However, for those who have a long term view, they can hold the stock with stop loss at 225 and keep on accumulating after a big dip as profit-booking by short-term investors is strongly awaited.

Speaking on the reasons for strong debut of Syrma SGS Technology shares, Santosh Meena, Head of Research at Swastika Investmart Ltd said, "Syrma SGS Technology Ltd has debuted at 262 i.e. 19 per cent above its issue price. The company’s good listing can be attributed to positive market sentiments, outstanding prospects, and a good response from the investors. With a huge focus on R&D-based innovation and an experienced management team, the company has managed to enter into various growing segments like PCBA, Radio Frequency Identification (RFID), Electromagnetic and electromechanical parts, and other information technology-related products. The company’s geographically diversified manufacturing locations and the business model which starts from product concept design & focuses on every segment of the overall industry value chain give them a competitive advantage over other players." He advised allottees to hold the stock maintaining stop loss at 225 apiece levels.

On suggestion to those who missed to get Syrma SGS Technology shares during allotment process, Ravi Singhal, CEO at GCL Securities said, "Those who want to take fresh position in the scrip are advised to wait for the correction and buy around 270 apiece levels for 6-9 months target of 344 per share levels. In case of any big dip, which is expected after profit-booking by short term investors, allottees with long term perspective can accumulate the stock if they have surplus money and hold for 6-9 month target of 344 apiece levels."

Ravi Singhal of GCL Securities said that only those investors should buy the scrip, who have medium to long term view.

Syrma SGS Technology IPO was subscribed 32.61 times whereas its retail portion was subscribed 5.53 times. It was subscribed 87.56 times in QIB category whereas its NII portion got subscribed 17.50 times.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.MoreLess

News in Numbers

Numbers that help you understand news better
$24 M

$13.8 B

₹313 Cr

₹773.44 Cr

34.7 M sqft

250,000

$4.5 B

First Published:26 Aug 2022, 11:38 AM IST
HomeMarketsStock MarketsSyrma SGS Technology shares rise after strong debut. Buy, sell or hold?

Most Active Stocks

Tata Steel

167.05
03:57 PM | 16 JUL 2024
0.25 (0.15%)

Oil & Natural Gas Corporation

322.40
03:58 PM | 16 JUL 2024
-0.15 (-0.05%)

Bandhan Bank

198.30
03:41 PM | 16 JUL 2024
2.95 (1.51%)

Coal India

512.35
03:59 PM | 16 JUL 2024
14.4 (2.89%)
More Active Stocks

Market Snapshot

  • Top Gainers
  • Top Losers
  • 52 Week High

Natco Pharma

1,281.05
03:59 PM | 16 JUL 2024
73.2 (6.06%)

Century Textiles & Industries

2,217.55
03:48 PM | 16 JUL 2024
116.85 (5.56%)

Tata Teleservices Maharashtra

81.33
03:54 PM | 16 JUL 2024
4.23 (5.49%)

India Cements

323.05
03:55 PM | 16 JUL 2024
15.8 (5.14%)
More from Top Gainers

Recommended For You

    More Recommendations

    Gold Prices

    • 24K
    • 22K
    Bangalore
    74,318.00-453.00
    Chennai
    74,755.00928.00
    Delhi
    75,266.001,294.00
    Kolkata
    75,047.001,002.00

    Fuel Price

    • Petrol
    • Diesel
    Bangalore
    102.86/L0.00
    Chennai
    100.76/L0.01
    Kolkata
    104.95/L0.00
    New Delhi
    94.72/L0.00
    OPEN IN APP
    HomeMarketsPremiumInstant LoanMint Shorts