Shares of Supriya Lifescience (SLL) surged 20 per cent to Rs 468.40 on the BSE in Wednesday’s intra-day commerce, after the corporate made a robust inventory market debut on Tuesday. With at present’s rally, the inventory of the prescription drugs firm has zoomed 71 per cent towards its concern worth of Rs 274 per share.
At 01:12 pm; SLL was up 17 per cent at Rs 454.75, as in comparison with 0.03 per cent decline within the S&P BSE Sensex. A mixed 15.3 million fairness shares had modified fingers on the NSE and BSE.
On Tuesday, SLL made a robust market debut, with its shares having ended at Rs 390.35, 42 per cent larger over its concern worth on the BSE. The inventory had opened at Rs 425, 55 per cent larger towards its concern worth.
SLL is among the key Indian producers and suppliers of energetic prescription drugs elements (APIs) and had garnered traders’ curiosity on the again of robust financials and enticing valuations. The IPO had acquired a robust response, which was subscribed 71.51 occasions.
SLL intends to realize operational excellence by way of value and manufacturing effectivity. Its manufacturing amenities and course of are absolutely built-in with multi-purpose operational and scale-up talents. The corporate believes that its superior manufacturing facility and analysis and improvement capabilities, together with ongoing enlargement efforts, will assist it to scale back manufacturing value, enhance manufacturing and obtain economies of scale.
SLL has a distinct segment product portfolio of 38 APIs with focus totally on numerous therapeutic areas. It has constantly been India’s largest exporter of sure area of interest merchandise with well-balanced presence between regulated and semi/non-regulated markets.
“We like Supriya for its area of interest product portfolio, backward built-in enterprise mannequin and sturdy financials. It’s properly positioned to faucet alternative within the pharma API market given its robust pipeline centered on additional diversification,” stated Sneha Poddar, AVP Retail Analysis, Motilal Oswal Monetary Companies.
Within the final 3-5 years, the API and specialty chemical trade have been darling for traders, and we consider that this development will proceed for a number of years. In the long term, traders ought to maintain the inventory, stated Santosh Meena, Head of Analysis, Swastika Investmart, submit the itemizing of SLL.