Sigachi Industries saw a bumper listing with a gain of approximately 250% By Mr. Parth Nyati, Tradingo
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Below is quote on Sigachi Industries saw a bumper listing with a gain of approximately 250% By Mr. Parth Nyati, Founder, Tradingo.
Sigachi Industries saw a bumper listing with a gain of approximately 250% on the back of robust fundamentals and attractive valuations. The company is the leading manufacturers of MCC (cellulose-based excipient) in India with diversified industry verticals. IPO was valued at 16x FY21 with no listed peer. Over the long run, if the demand is sustained for MCC and the expansion program of the company post the IPO will provide earnings growth momentum. Existing shareholders are advised to hold the stock with an SL of 480 while the new investors are advised to wait till the stock prices cool off.
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