sanstar share price: Sanstar share price jumps 19% after listing. What should investors do?
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Sanstar shares surged 19% to Rs 126.5 following their debut on the exchanges on Friday. The stock is listed at Rs 106.4 on the BSE, a 14.7% premium over its IPO price of Rs 95 per share. On the NSE, the manufacturer of maize-based specialty products listed at Rs 109. Despite the strong response to the IPO, which was subscribed nearly 83 times, the listing price was lower than expected. Following the listing of the stocks, Prashanth Tapse, Senior VP (Research) at Mehta Equities, said, "Despite markets being on a positive note, Sanstar listing was below our listing expectation of ~22-25% while post listing the stock is headed towards our expectation. Despite market upbeat mood we still continue to recommend allotted investors to book profits on listing day. We are not comfortable on the valuations which were slightly on the expensive side when compared to other listed peers.” Meanwhile, Shivani Nyati, Head of Wealth at Swastika Investm...