Plaza Wires shares to list on bourses today

On Thursday, Plaza Wires will make its Dalal Street debut. Judging by the patterns in the grey market, the company is expected to have a respectable first day there. Due to improving market sentiments amid geopolitical concerns, the company has been able to maintain its premium on the unofficial market prior to its IPO.

 

Considering the strong subscription, Plaza Wires is expected to open at a handsome premium over its listing price, said Anushi Vakharia, Research Analyst at StoxBox. "However, We continue to remain cautious over the long-term trajectory of the business as it operates in an industry that is prone to high raw material volatility along with being part of a highly competitive industry," she said.

 

"While the P/E of 22 times is based on FY2023 earnings which prices in most of the positives of the company, we advise the investors to book profits today and adopt a wait-and-watch approach to consider it for a long-term investment," Vakharia said.

Top stories
Company

L&T Partners with PS Technology to Revolutionise Railways

6 mins read . 02 Aug 2024 . 12:45 PM

Company

Jindal Saw Q1 FY24 PAT Rises 67% to Rs 441 Cr

4 mins read . 02 Aug 2024 . 12:41 PM

Company

Pfizer Q1 FY25 PAT Zooms 61% to Rs 151 Cr

4 mins read . 02 Aug 2024 . 12:36 PM

Related Blogs
blog-logo

Candlestick Patterns

blog-logo

11 mins read . 03 Oct 2024

Ascending Triangle Pattern - Definition, Tips, Component & How to Trade

  • 0 people read
blog-logo

IPO

blog-logo

5 mins read . 19 Sep 2024

Vision Infra Equipment Solutions Limited IPO

  • 0 people read
Kickstart your equities journey today You've got this
By submitting this I agree to the terms & conditions