Emmforce Autotech and Varyaa Creations See Strong Market Debuts
Emmforce Autotech and Varyaa Creations, two companies recently listed on the Bombay Stock Exchange (BSE), have witnessed a robust market debut. Their stock prices have nearly doubled, indicating strong investor interest.
Emmforce Autotech, an aftermarket drivetrain component manufacturer, saw its shares surge by 5% to Rs 195.51 on the BSE. The company manufactures niche drivetrain parts for the American and ASEAN aftermarket. While it faced some challenges in FY23 due to inventory issues, signs of recovery in the first seven months of FY24 point towards a positive trend.
Varyaa Creations, a jewellery company, also witnessed a strong debut. Its shares soared by 99% to Rs 299.25, before settling at Rs 270.75. The company deals in wholesale trading of gold, silver, precious stones, and semi-precious stones.
Both companies are currently trading in the 'MT' segment on the BSE, which means trading and clearing & settlement are done on a gross basis. Their trades will be in minimum market lots of 1,000 equity shares.
The strong market debut of these companies highlights the growing investor interest in the SME segment of the Indian stock market.