Gopal Snacks IPO makes weak debut, shares list at 12.5% discount
Post listing, Gopal Snacks shares fell as much as 14.7% to touch a low of ₹341.8 on the NSE, while the market capitalisation declined to ₹4,750 crore.
Post listing, Gopal Snacks shares fell as much as 14.7% to touch a low of ₹341.8 on the NSE, while the market capitalisation declined to ₹4,750 crore.
Hotels business was a stand-out contributor, followed by FMCG, while paperboard and agri remained under severe pressure.
The FMCG major reported flat profit and sales at ₹2,519 crore and ₹14,928 crore, respectively, in Q3 FY24, dented by demand slowdown.
Post analysts meet, Prabhudas Lilladher has maintained ‘Accumulate’ rating on ITC shares, while Emkay Global Financial and Jefferies have retained ‘Buy’ ratings.
HUL is expected to post double-digit growth in both profit and revenue on a yearly basis, but sequentially the top and bottom lines are likely to be muted due to inflation headwinds.
The share price of the edible oil manufacturer has been hitting the upper circuit for the last 58 sessions and has risen around 1,500% during the period.