Listings ALERT! Shyam Metalics, Sona BLW Precision share hit THIS HIGH for second straight session today

Newly listed Shyam Metalics and Sona BLW Precision Forgings shares touched a new record high for the straight second session on Friday to Rs 405.9 and Rs 414.4 per share on the BSE intraday today.  

Individually, Shyam Metalics surged eight per cent, while Sona BLW Precision jumped by 14.5 per cent on the BSE intraday today, however, since its listing yesterday, the former has gained over 10.5 per cent and the latter soared by over 37 per cent.  

Shyam Metalics opened at Rs 367 per share and Sona BLW Precision at Rs 302.4 per share on the BSE at the start of its journey on exchanges. Both the company’s IPO (initial public offering) was launched from June 14 to 16, 2021. 

Shyam Metalics shares were offered in the price band of Rs 303-306 per share and Sona BLW Precision, the price band was fixed at Rs 285-291 per share. The IPO issue size for the former was over Rs 900 crore and Rs 5550 crore for the latter. 

The shares of Shyam Metalics were listed at a premium of over 24 per cent on the NSE and the BSE. 

Over 2.1 cr shares were offered by Shyam Metalics and over 1.9 billion bids were received. For Sona BLW Precision Over 10.71 cr shares were offered by the company and the number of bids received for the same was over 11.09 crores.  

Being bullish on Shyam Metalics, Zee Business Managing Editor Anil Singhvi had predicted a good listing for the company and had given a recommendation for this stock, quoting it as a good stock at an IPO price.  Investors should allow it to get doubled whatever time it takes, the Managing Editor said. 

At around 2:30 pm, Shyam Metalics is trading over four per cent higher to Rs 391.50 per share on the second of listing on the BSE, while Sona BLW Precision is up over one and a half per cent to Rs 369 per share on the BSE today.