Grey Market Says Shyam Metalics to List Higher While Sona Comcast will Be Muted

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Grey Market Says Shyam Metalics to List Higher While Sona Comcast will Be Muted
Credit: © Reuters.

By Aditya Raghunath

Investing.com -- The grey market is giving out different vibes for two stocks that are scheduled to list on the indices tomorrow. Shyam Metalics and Energy Ltd (NS: SHYE ) is expected to make a strong debut and list considerably higher than its issue price of Rs 303-Rs 306. However, Sona Blw Precision Forgings Ltd (BO: SONB ) is expected to have a muted debut, and could even list at a discount according to experts.

Shyam Metalics shares are trading at a premium of Rs 130-Rs 135 on the grey market. This indicates a grey market premium (GMP) of over 40%. The reason for this high GMP is the fact that Shyam Metalics’ valuation leaves something on the table for investors.

Sona Comstar, on the other hand, has a GMP of only Rs 1. The issue price for Sona Comstar is Rs 285- Rs 291 a share. The GMP for Sona Comstar was low even in the days leading up to the IPO at Rs 10-Rs 13 a share. Market experts say that the company has a good business model but has not left anything on the table for its subscribers at a very high valuation.

Sona is expected to list at par or even at a discount. Experts say that if the stock lists at a discount, it is a good chance to accumulate.

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100
  • Bhupendra Pal @Bhupendra Pal
    Got one shyam metallic applied from five demat account
    Like 0
  • Bhupendra Pal @Bhupendra Pal
    Got one shyam metallic applied from five demat account
    Like 0
  • Bhupendra Pal @Bhupendra Pal
    Got one shyam metallic applied from five demat account
    Like 0
  • Bhupendra Pal @Bhupendra Pal
    got one shyam applied from five diff demat
    Like 0
  • Bhupendra Pal @Bhupendra Pal
    got 1 shyam applied from 5 diff demat
    Like 0
  • Bhupendra Pal @Bhupendra Pal
    got 1 shyam applied from 5 diff demat
    Like 0
  • vikas kadawe @vikas kadawe
    got shyam matalic
    Like 0
  • vikas kadawe @vikas kadawe
    got shyam matalic
    Like 0
  • ASHU VERMA @ASHU VERMA
    hope for the best. as I recieved the sona IPO
    Like 1
  • Ashwin Mehta @Ashwin Mehta
    Hope good listing of Sona
    Like 6

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