Shyam Metalics IPO listing: Stock on NSE at 24% premium; Market Guru Anil Singhvi has THIS strategy for share investors for price gains

Shyam Metalics and Energy IPO – Stock of Shyam Metalics and Energy was listed on the NSE and BSE today. The shares were listed at a premium of over 24 per cent on the NSE and the BSE. The issue price was at Rs 306. The three-day public issue commenced on 14 June and ended on 16 June. 

On BSE, the intraday high was Rs 399.10 while the intraday low was Rs 367 - the listing price. At 11:45 am, this stock was trading at Rs 382.75, up by almost 4 per cent from the listing price. 

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Meanwhile, on NSE too, the intraday high was Rs 399 while the intraday low was Rs 371.55. This stock was trading at Rs 382. 55 around this time, up by almost 0.7 per cent from the listing price.   

Over 2.1 cr shares were offered and the number of bids that were received were over 1.9 billion. The retail individual investors (RIIs) subscribed around 5.3 times. Qualified Institutional Investors subscribed over 62 times.  

Meanwhile on BSE, the issue was subscribed over 121 times. The retail individual investors subscribed around 11.64 times. Qualified Institutional Investors subscribed over 155 times.  

Anil Singhvi’s recommendations: 

Earlier in the day, Zee Business Managing Editor Anil Singhvi had predicted a good listing for Shyam Metalics. The market Guru had recommended this stock for listing gains. But if you are a long term investor, Singhvi advised against selling of this stocks for listing gains. He said that one must hold it in their portfolio. He said that it is a good stock at an IPO price.  

Investors should allow it to get doubled whatever time it takes, the Managing Editor said. It has a potential to go up to Rs 550-600, he further said. 

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श्याम मेटालिक्स की लिस्टिंग आज

लिस्टिंग पर मुनाफावसूलें या फिर बने रहें?

जानने के लिए देखिए अनिल सिंघवी का ये वीडियो...#ShyamMetalics #IPO #NewListing @AnilSinghvi_ pic.twitter.com/7U1bGokBEf

— Zee Business (@ZeeBusiness) June 24, 2021

One must hold it. His advice is to keep a stop loss at Rs 375 and then trailing the stop loss. The stop loss should be with a Rs 25 margin, he further said.