Tarsons Products made a strong debut on stock exchanges on Friday, with shares listing at a premium of almost six percent over its issue price. On BSE, the stock of Kolkata-based life sciences company Tarsons Products listed at Rs 700 apiece, a premium of 5.7 percent over the issue price of Rs 662. On NSE, the Tarsons stock began its secondary market journey at Rs 682, a premium of three percent over the issue price.
The Tarsons Products listing was in tandem with the trends witnessed in the grey market — an unofficial market for unlisted securities — ahead of the listing of shares on Dalal Street.
Santosh Meena, Head of Research at Swastika Investmart, suggests long-term investors to hold Tarsons Products shares. Those who had applied for a listing gain can keep a stop loss of Rs 590, and risk-taking investors can also buy with the same stop loss, he added.
"Tarsons Products is backed by a strong management team with great brand awareness and high-quality goods... We may see profit booking in the stock tracking global cues amid concerns about a new variant of COVID-19. However, it is expected that we may see demand for Tarsons products," he said.
ALSO READ: Grey market explained - what is it and does it predict listing gains?
Tarsons Products's initial public offer (IPO), shares under which were available for bidding from November 15 to November 17, was subscribed a total of 77.5 times. The Tarsons IPO received bids for a total of 84 crore shares as against the 1.1 crore shares on offer.
The market debut of Tarsons Products comes days after Latent View Analytics and Paytm parent One97 Communications listed their shares on bourses BSE and NSE.
Barring Paytm, most IPOs in recent times have received a robust response from investors.
Latent View Analytics shares continued to rise for yet another day on Friday, up nearly four times the issue price following a bumper listing. Latent View's debut is so far the year's third best. The stock listed on exchanges at a premium of up to 169 percent.
Sigachi Industries is the year's best listing day gainer so far. Earlier this month, the Sigachi stock debuted at a 253 percent premium over the issue price.
Catch latest stock market updates here
The Tarsons Products listing was in tandem with the trends witnessed in the grey market — an unofficial market for unlisted securities — ahead of the listing of shares on Dalal Street.
Santosh Meena, Head of Research at Swastika Investmart, suggests long-term investors to hold Tarsons Products shares. Those who had applied for a listing gain can keep a stop loss of Rs 590, and risk-taking investors can also buy with the same stop loss, he added.
"Tarsons Products is backed by a strong management team with great brand awareness and high-quality goods... We may see profit booking in the stock tracking global cues amid concerns about a new variant of COVID-19. However, it is expected that we may see demand for Tarsons products," he said.
ALSO READ: Grey market explained - what is it and does it predict listing gains?
Tarsons Products's initial public offer (IPO), shares under which were available for bidding from November 15 to November 17, was subscribed a total of 77.5 times. The Tarsons IPO received bids for a total of 84 crore shares as against the 1.1 crore shares on offer.
The market debut of Tarsons Products comes days after Latent View Analytics and Paytm parent One97 Communications listed their shares on bourses BSE and NSE.
Barring Paytm, most IPOs in recent times have received a robust response from investors.
Latent View Analytics shares continued to rise for yet another day on Friday, up nearly four times the issue price following a bumper listing. Latent View's debut is so far the year's third best. The stock listed on exchanges at a premium of up to 169 percent.
Sigachi Industries is the year's best listing day gainer so far. Earlier this month, the Sigachi stock debuted at a 253 percent premium over the issue price.
Catch latest stock market updates here
First Published: Nov 26, 2021 10:00 AM IST
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