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Sunday, August 01, 2021

Sona Comstar shares hit 20% upper circuit after making a tepid debut

Sona Comstar shares listing: The Sona BLW Precision Forgings (Sona Comstar) scrip got listed at Rs 302.40 apiece on the BSE, thereby registering a gain of 3.92 per cent from its offer price of Rs 291. However, the scrip extended its gains and hit a 20 per cent upper circuit as the trade progressed.

By: Express Web Desk | New Delhi |
June 24, 2021 12:02:41 pm
sona comstar ipoSona BLW Precision Forgings (Sona Comstar) is into designing, manufacturing and supplying highly engineered critical automotive systems and components such as differential assemblies, differential gears, conventional and micro-hybrid starter motors, BSG systems, EV traction motors and motor control units. (Image: Facebook/Sona Comstar)

Sona Comstar share price: Shares of Sona BLW Precision Forgings (Sona Comstar) made a tepid debut on the stock exchanges today listing nearly 4 per cent higher than their issue price on the BSE.

The scrip initially got listed at Rs 302.40 apiece on the BSE, thereby registering a rise of 3.92 per cent from its offer price of Rs 291.00. On the NSE, it debuted at Rs 301.00, registering a 3.44 per cent rise. The stock however continued its upward momentum during the day and hit its 20 per cent upper circuit on both the bourses. It was frozen at Rs 362.85 on the BSE and at Rs 361.20 on NSE.

The company’s market valuation stood at Rs 21,164.67 crore, according to data available on the BSE.

Over 4.11 crore shares of Sona Comstar were traded on the NSE during the first 90 minutes of trade, while over 42.02 lakh shares exchanged hands on the BSE, data from the respective stock exchanges showed.

The Rs 5,550 crore IPO of Sona Comstar met a robust demand during its offer period from June 14-16. The issue was oversubscribed by a whopping 2.28 times.

Sona BLW Precision Forgings is auto component maker. It is into designing, manufacturing and supplying highly engineered critical automotive systems and components such as differential assemblies, differential gears, conventional and micro-hybrid starter motors, BSG systems, EV traction motors and motor control units.

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