In the last year, many companies’ initial public offerings (IPOs) were launched, which gave profits on the day of listing in the stock market. One of these is the metal company Shyam Metals and Energy (SMEL). Experts see the scope in this company and they expect its share price to cross Rs 400 level in the coming days.
How much is the share price: The share price of Shyam Metalics and Energy is currently at Rs 308 level on BSE Index, which is very close to the issue price of IPO. Let us tell you that the issue price of the IPO was fixed at Rs 303-306. However, when the company entered the stock market, the price of Shyam Metalics and Energy closed with an increase of about 30 percent from the issue price on the day of listing itself.
The share price of this company has also touched the all-time high level of 461.15. This level was in the month of July last year. However, this year the selling dominated and in the month of February the share price came down to Rs 288.85, which is the lowest level ever. Talking about the market capital of Shyam Metalics and Energy, it is more than Rs 7,855 crore.
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What experts say: Brokerage house ICICI Securities has given buy rating to metal stock Shyam Metalics and Energy. This means that it has been advised to buy. ICICI Securities has set a target price of Rs 400 per share, which shows a potential of up to 30 per cent.
About Company: Kolkata-based Shyam Metalics and Energy Company deals in long steel products (angle/girder/rebar) and ferro alloys. At the same time, a team of more than 40 distributors has been established in 13 states and one union territory. It has a total of three factories at Sambalpur in Odisha and Jamuria and Mangalpur in West Bengal.