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Below is quote on Sapphire Foods listing view by Mr. Santosh Meena, Head of Research, Swastika Investmart Ltd

Sapphire was listed with moderate gain in line with our expectations. Sapphire food is a loss-making company however we have seen successful companies in the market from similar spaces. If we talk about the valuations then it is coming out with 7XFY21 sales while recently listed devyani international is trading at 14XFY21 therefore it is coming out with attractive valuations compared to its peers and it has strong brand names under its umbrella. Aggressive investors can hold this stock for the long term as the business outlook is encouraging while short-term traders can keep a stop loss of 1100 for the near term target of 1500.

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