Tarsons Products | The rally indicates that the appetite for the stock is huge and that was seen when the offer was subscribed 77.49 times.
Life sciences company Tarsons Products shares extended gains sharply to hit an upper circuit of 20 percent, though the listing gains missed analysts’ expectations due to a steep fall in the equity market, on November 26.
The rally indicates that the appetite for the stock is huge and that was seen when the offer was subscribed 77.49 times between November 15 and 17.
Experts largely advised holding Tarsons Products for the long term. “It is a leading Indian supplier to the life sciences sector with a strong brand recognition, quality products, and available at reasonable valuation on an absolute basis,” said Likhita Chepa, Senior Research Analyst at CapitalVia Global Research.
The stock opened with 5.7 percent gains at Rs 700 on the BSE, much lower than analysts’ expectations (25-30 percent) and grey market premium (over 25 percent). But it extended gains gradually and froze finally at 20 percent gains in the afternoon at Rs 840, posting 26.89 percent gains over issue price of Rs 662 per share.
Prashanth Tapse, Vice President (Research) at Mehta Equities also