Shyam Metalics makes strong debut, lists at 24% premium over issue price

The stock rallied to Rs 399, up 30 per cent from its issue price, in intra-day deals on the BSE

Shyam Metalics and Energy (SMEL) made a strong debut on the bourses, with the stock listing at Rs 380, a 24 per cent premium over its issue price of Rs 306 per share, on the National Stock Exchange (NSE) on Thursday.

On the BSE, the stock listed at Rs 367, a 20 per cent premium over the issue price. However, it surged to Rs 399, a 30 per cent premium against its issue price in intra-day deals.

At 10:03 am, SMEL was trading at Rs 394, a 29 per cent premium on the NSE and BSE. A combined