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Kanohar Electricals shares make positive debut, list at nearly 9% premium
Kanohar Electricals shares made a positive debut on the bourses on Wednesday, listing at a premium of nearly 9 per cent.
Kanohar Electricals share price today: Shares of transformer manufacturer Kanohar Electricals Ltd made a positive debut on the bourses on Wednesday, listing at a premium of nearly 9 per cent against the issue price of ₹632.
The stock started trading at ₹672.05 on the BSE, registering a gain of ₹40.05, or 6.43 per cent, over the issue price. It further surged to ₹705.65, up nearly 12 per cent compared with the IPO price.
At the NSE, the stock listed at ₹685.50, up ₹53.40, or 8.47 per cent, over the issue price.
The company's market capitalisation stood at ₹5,321.75 crore at the time of listing.
Kanohar Electricals' listing fell short of grey market expectations, with the GMP indicating a potential listing premium of around 38-40 per cent over the IPO price. Kanohar Electricals stock: Should you buy?
Shivani Nyati, head of wealth at Swastika Investmart, said that Kanohar Electricals' strong fundamentals, including 42 per cent ROE, 70 per cent ROCE, 0.10x debt-to-equity and a ₹1,818 crore order book, support the original Subscribe view.