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Economy, business and finance
Karamtara Engineering hits 10% upper limit on debut; up 38% from IPO price
Karamtara Engineering shares made a strong debut on the bourses today, yielding a listing gain of 26 per cent to the IPO investors.
Karamtara Engineering share price: Shares of Karamtara Engineering, a manufacturer of engineering steel products for renewable energy and power transmission sectors, made a strong debut on the bourses today, yielding a listing gain of nearly 26 per cent for IPO investors.
The stock opened at ₹320, marking a 25.98 per cent premium over the issue price of ₹254 on both the NSE and BSE.
Later, the stock jumped 10 per cent to hit the upper circuit at ₹351.95 on BSE.
Karamtara Engineering's market capitalisation stood at ₹10,298.33 crore at the time of listing, according to BSE data.
Karamtara Engineering’s listing was above grey market expectations, which had indicated around 16 per cent listing gains. Karamtara Engineering stock: Buy or book profit? Shivani Nyati, head of wealth at Swastika Investmart, said that the strong debut validates the renewable-energy and solar-structures leadership story, backed by healthy growth, margins, and IPO-led deleveraging. However, premium valuation caps near-term upside. "Short-term investors should consider booking gains on strength, while long-term growth investors can hold through corrections tied to sector capex cycles. Keep a stop loss at ₹290," she added.