Hy-Tech Engineers hits upper circuit after strong debut; Symbiotec, Skyways trade above listing price
Strong investor demand drove sharp gains for one debutant, while the other two stocks faced contrasting reactions after listing
Hy-Tech Engineers, Skyways Air Services, and Symbiotec Pharmalab made varying market debuts on Tuesday, each with distinct outcomes. Hy-Tech Engineers proved the top performer, while Symbiotec Pharmalab showed modest gains after a lackluster start, and Skyways Air Services opened at a discount. Hy-Tech Engineers launched 41.5% above its offer price, trading at ₹75 on the NSE and BSE, both above its upper circuit.
Symbiotec Pharmalab debuted flat at ₹988, with its price escalating to ₹1,165 on the NSE by midday. Skyways Air Services was listed at a 10% discount, trading at ₹128.40 on the NSE, slightly above the IPO price. Analyst Shivani Nyati from Swastika Investmart Ltd. noted that Hy-Tech Engineers' strong debut was due to robust investor demand and robust margins of 22% and 11.5%.
She advised retail investors to hold the stock, suggesting a stop loss around ₹64. For Symbiotec Pharmalab, the flat listing reflected muted market interest, while Skyways Air Services' weak opening suggested soft sentiment despite its prominent position as an air freight forwarder.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
