News for Jumbo Bag Limited (JUMBO.BO)

Stocks to watch: Check out the companies making headlines before the opening bell today, on February 7, 2024.

Despite a stellar response to the initial public offering (IPO), the stock couldnt command a significant premium in the unofficial or grey market, due to the prevailing weak market sentiment. A day ahead of the listing, the stock was trading at a premium of Rs 10 to its issue price in the grey market.

Sah Polymers | Shares of the company were trading at a 10-15% premium over the issue price in the grey market, analysts have said

The quota for retailers was subscribed 27.01 times whereas the portion for non-institutional investors fetched 15.66 times bids, and the allocation for qualified institutional bidders was booked 1.10 times.

The Rs 66.3 crore initial public offering (IPO) of Sah Polymers was subscribed 3.35 times so far on the third day of the bidding process on Tuesday. The grey ma...

Reliance Securities said while the company has a quality product mix, strong customer base across geographies and industries, good financials and a wide product portfolio, the issue seems pricey based on the current financials.

Sah Polymers IPO | The IPO is a fresh issue of 1.02 crore equity shares. There is no OFS component to the issue. Sah Polymers’ profit for FY23 grew by 244 percent to Rs 4.4 crore, while revenue climbed 46.2 percent to Rs 80.5 crore, compared to the previous year. Exports accounted for over than 55 percent of the topline.

Markets expected to remain volatile amid worries about inflation and its impact on corporate earnings, while also fuelling concerns over aggressive US Fed rate hikes in the near term. However, stock specific action may continue as earnings season progresses.

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Trends on SGX Nifty indicate a positive opening for the broader index in India with a gain of 105 points