Emmforce Autotech and Varyaa Creations have made an impressive debut in the market, with their stock prices nearly doubling on the bourses.
Trading in the ‘MT’ segment on the BSE, these stocks will be under the Trade-for-Trade segment for the next 10 trading days, as per BSE’s notice.
Emmforce Autotech’s Performance and Prospects
Emmforce Autotech’s stock witnessed a remarkable surge, hitting the upper circuit of 5% at Rs 195.51 on the BSE, doubling its issue price of Rs 98 per share.
The company, a manufacturer of aftermarket drivetrain components, listed at Rs 186.20, and its shares saw significant trading activity.
With a focus on niche drivetrain parts, such as differential housings and axles, for the American and ASEAN aftermarket, the company has displayed growth in revenue and profit, with signs of recovery in FY24.
Additionally, its establishment of a new facility aims to cater to agricultural blade demand.
Varyaa Creations: Impressive Market Performance
Shares of Varyaa Creations soared to an intraday high of Rs 299.25, representing a remarkable 99% increase from its issue price of Rs 150 per share. The jewellery company’s stock listed at Rs 285, marking a 90% premium to its issue price.
Currently, it is locked in a lower circuit of 5% at Rs 270.75 on the BSE, with substantial trading volume and pending sell orders.
Varyaa Creations specializes in wholesale trading of gold, silver, and precious stones, positioning itself for significant growth in the sector.
Market Segment and Regulatory Framework
Both Emmforce Autotech and Varyaa Creations are listed under the “MT” group on the BSE, where trading and clearing are done on a gross basis.
The BSE has outlined specific trading guidelines for these stocks, ensuring transparency and efficiency in the market.
