Data showed out of 22 listings so far in 2021, 16 managed to deliver double-digits returns to investors, while eight shot up in excess of 50 per cent.
Five stocks that stood out included Nureca, Easy Trip Planners, Barbeque Nation Hospitality, MTAR Technologies and Laxmi Organic Industries. Many of these companies reported strong earnings for the March quarter (on last year’s lower base).
Shares of Nureca soared 327 per cent since its debut on February 27. At Rs 1,708 on Friday, the scrip was up 4.3 times from issue price of Rs 400. Nureca is a wellness and healthcare company and owns the brand ‘Dr Trust’. The company reported 63.3 per cent YoY rise in net profit for March quarter at Rs 3.89 crore on a 0.3 per cent rise in sales at Rs 33.12 crore. Sales for the quarter were hurt, as some of its products came under drug licensing during the quarter. Overall, profit for the pandemic year rose a whopping 625 per cent to Rs 46.37 crore on a 117.4 per cent rise in sales at Rs 216.27 crore.
Easy Trip Planners stock has more than doubled over its issue price of Rs 187 on March 19, despite the prevailing second wave of the Covid. This scrip last traded at Rs 385.30 apiece, up 106.40 per cent. Anand Rathi said the zero-debt company has a strong balance sheet with cash and term deposits worth Rs 242 at the end of FY21 against Rs 146 crore in FY20.
“Given the company’s strong presence in the growing online ticketing market in India, lean business model, strong management, stronger balance sheet along with profitable growth outlook, we initiate our coverage on the stock with a buy rating,” the brokerage said last week and suggested a price target of Rs 475 on the stock.
Barbeque Nation Hospitality is up 79 per cent over its issue price of Rs 500. The scrip, which got listed on April 7, now trades at Rs 893.60 apiece.
This company reported Rs 6.2 crore profit for March quarter against Rs 27.35 crore loss reported for the year-ago period. Sales grew 18.53 per cent for the quarter to Rs 226.35 crore. A total of 98 per cent, or 160, of the company’s restaurants were operational in Q4. The company is aiming to add 20 new restaurants in FY22 and double revenues from the delivery business.
In the case of MTAR Technologies, the scrip has, to an extent, managed to hold up listing day gains. The scrip is up 78 per cent over its issue price of Rs 575. That said, the stock trades below Rs 1,082.25, the price where the scrip had ended up on the listing day. This Hyderabad-based company reported a 47 per cent YoY rise in PAT at Rs 46.1 crore for FY21 compared with Rs 31.3 crore reported for the year-ago period.
Revenues for the year rose 15 per cent to Rs 246.40 crore in FY21 from Rs 213.80 crore in FY20. The company’s order book stood at nearly Rs 416 crore as of March 31.
Laxmi Organic Industries reported a consolidated profit of Rs 36.37 crore for March quarter, over 3 times of Rs 10.17 crore profit it had reported for the March quarter last year, but lower than Rs 45.21 crore reported for the December quarter. Revenues rose to Rs 519.52 crore from Rs 386.5 crore in the year-ago quarter. This stock has risen 71.3 per cent over its issue price of Rs 130. This scrip got listed on March 25.
Dodla Dairy and KIMS will list on the stock exchanges this week.
While Dodla Dairy traded at a premium of Rs 65-70 in grey market, KIMS is trading at a premium of Rs 95-100. This premia can translate into 15-20 per cent listing gain over the issue price for both the issues.
