MTAR Tech makes stellar debut, lists at 85% premium over issue price

Most brokerages had recommended 'Subscribe' rating on the issue, on the huge growth opportunities for MTAR and a high margin business that would aid flow of profitability to the bottomline

Shares of MTAR Technologies, a precision engineering solutions company, made a strong debut on the bourses, listing at Rs 1,063.90, up 85 per cent against its issue price of Rs 575 per share on the BSE on Monday. On the National Stock Exchange (NSE), the stock opened at Rs 1,050, up 83 per cent against its issue price.

Post listing, the stock zoomed 93 per cent, hitting a high of Rs 1,110 on the BSE and Rs 1,100 on the NSE. At 10:01 am, the stock was trading at Rs 1,092, up 90 per cent against its issue price.