In 2024, Initial Public Offerings (IPOs) continue to shape the financial landscape, providing companies with a platform to go public and raise capital from the market. Investors eagerly anticipate new opportunities, evaluating potential listings for growth, innovation, and market trends, contributing to the dynamic and evolving nature of the IPO space.
Here are the 3 stocks that have given returns of up to 57% in a month after listing in 2024:
Rudra Gas Enterprise Limited
Rudra Gas Limited specializes in gas distribution network projects, fiber cable networks, construction equipment, and vehicle rentals.
The stock of the company was listed on the Bombay Stock Exchange (BSE) on February 15, 2024, and on Wednesday, the stock were trading at Rs 174.10 per share, giving a return of 53 percent since listing. The market capitalization of the company stands at Rs 145.16 crore.
The company’s revenue stood at Rs 49.42 crore in Q3FY24, during the same time frame, net profit stood at Rs 3.52 crore.
Shree Marutinandan Tubes Limited
Shree Marutinandan Tubes Ltd. (SMTL) trades galvanized pipes and electric resistance welding mild steel (“ERW MS”) pipes (round pipes, square and rectangular hollow sections).
The stock of the company was listed on the Bombay Stock Exchange (BSE) on January 19, 2024, and on Monday, the stock closed at Rs 314.45 per share, giving a return of 57 percent since listing. The market capitalization of the company stands at Rs 108.80 crore.
The company’s revenue stood at Rs 42.77 crore in Q3FY24, during the same time frame, net profit stood at Rs 1.42 crore.
Megatherm Induction Ltd
Megatherm Induction Limited produces induction heating and melting items employing electrical induction, such as induction melting furnaces and induction heating equipment.
The stock of the company was listed on the National Stock Exchange (NSE) on February 5, 2024, and on Wednesday, the stock were trading at Rs 252 per share, giving a return of 33.56 percent since listing. The market capitalization of the company stands at Rs 515.29 crore.
The company’s revenue stood at Rs 147 crore in Q3FY24, during the same time frame, net profit stood at Rs 8 crore.
Written by:- Abhishek Singh
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