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Sigachi Industries shares surge 5%, extend gains to 2nd day after bumper listing

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Sigachi Industries shares extended gains on Tuesday, a day after the Hyderabad-based manufacturer of refined wood pulp made a blockbuster debut in the secondary market. Sigachi's listing day gain was the best among the debutants so far in 2021, surpassing the likes of Paras Defence, GR Infraprojects, Tatva Chintan and Clean Science.

Sigachi Industries shares surge 5%, extend gains to 2nd day after bumper listing
Sigachi Industries shares extended gains on Tuesday, a day after the Hyderabad-based manufacturer of refined wood pulp made a blockbuster debut in the secondary market. At 11:00 am, the Sigachi Industries stock was locked in the upper circuit at Rs 633.9 on BSE, having begun the day at Rs 633.9.
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On Monday, Sigachi shares ended at Rs 603.8, having started trading on stock exchanges at a premium of around 250 percent.
Sigachi's listing day gain was the best among the debutants so far in 2021, surpassing the likes of Paras Defence, GR Infraprojects, Tatva Chintan and Clean Science, whose shares listed at premiums of 98-171 percent compared with their issue prices.
Most analysts are positive on Sigachi shares from a long-term perspective.
Rahul Sharma, Co-Founder of Equity99 Advisory, suggested existing investors stay invested in Sigachi given the company's niche product offering.
"Considering the listing day premium, short-term investors are advised to book profits as their capital is almost three times in 10-15 days. For fresh entry, wait for declines and don't enter afresh at the listing gain," he said.
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