Rajputana Stainless share price plunged over 10% after making a muted debut in the Indian stock market today. Rajputana Stainless IPO listing date was today, 19 March, and the stock has been listed on BSE and NSE.
Rajputana Stainless share price got listed at ₹123.95 apiece on the BSE, a premium of 1.59% to its issue price of ₹122 per share. On NSE, the stock was listed flat at ₹122 per share.
The listing of Rajputana Stainless shares comes amid the stock market crash today. The BSE Sensex and NSE Nifty 50 were trading over 2% lower each, weighed down by sharp selling across sectors.
Rajputana Stainless share price succumbed to selling pressure after muted listing. The stock slumped over 10% from its listing price amid profit-booking. Rajputana Stainless shares declined as much as 10.24% from its listing price to ₹111.25 apiece on the BSE.
However, Rajputana Stainless IPO listing was inline with the Street estimates as indicated by the grey market premium (GMP). Ahead of the listing, Rajputana Stainless IPO GMP today was ₹3, signalling a listing premium of over 2%.
Should you buy, sell or hold Rajputana Stainless shares after listing?
Rajputana Stainless IPO comes at a time when investor sentiment remains cautious. While the listing has generated notable interest, it is important to adopt a measured approach and focus on the company’s long-term performance.
Rajputana Stainless operates in the stainless steel segment, which is closely linked to construction, infrastructure, and industrial growth.
“Given India’s continued progress in these sectors, the long-term demand outlook remains favourable. However, investors should note that IPOs often witness sharp price movements in the initial phase, driven by strong demand and limited supply. Such early gains do not necessarily reflect the underlying strength of the business,” said Darshan Rathod, COO, Multyfi.
Post-listing, he noted stocks in this segment can exhibit volatility, with bouts of profit booking being a normal occurrence. While the trend highlights sustained investor interest in manufacturing and industrial companies, it also reflects a more cautious and selective approach in the current market environment.
“In this context, investors would be better served by avoiding immediate participation and instead monitoring the company’s performance, growth trajectory, and fundamentals before making a considered investment decision,” said Rathod.
Rajputana Stainless IPO was open from March 9 to March 11, and the IPO price band was set at ₹116 to ₹122 per share. Rajputana Stainless IPO was subscribed 1.12 times in total.
At 1:40 PM, Rajputana Stainless share price was trading at ₹115.20 apiece on the BSE, down by 7.06% from its listing price, and lower by 5.57% from its issue price.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
