Sahasra Electronics has continued its impressive run on the share market live, with the company’s stock hitting its third consecutive upper circuit on October 8, 2024. The stock is currently trading at ₹622.35 per share on the NSE, after listing at a massive 90% premium above its issue price of ₹283 per share.
This latest price surge saw Sahasra Electronics hit the upper limit of a 5% rise for the third day in a row, cementing its place as one of the biggest SME IPOs of the year.
Market Momentum and Trading Volumes
Trading volume was significant, with 3.61 lakh shares changing hands on the NSE, resulting in a turnover of ₹22.09 crore. The company’s shares are also trading above key moving averages, further indicating strong market interest. Analysts continue to keep a close eye on Sahasra Electronics, as its stock shows potential for continued upward movement.
Upcoming Board Meeting
The company’s board of directors is scheduled to meet on October 10 to discuss the utilization of IPO proceeds, as disclosed in the Red Herring Prospectus (RHP). This meeting could shed light on the company’s future growth plans and operational strategies.
Conclusion
With Sahasra Electronics continuing its upward trajectory, investors remain optimistic about its long-term prospects. As the stock news today India highlights the company’s strong performance, attention will now shift to its board meeting and how it plans to deploy the funds raised from its successful IPO.
Disclaimer
This article provides information on Sahasra Electronics’ stock performance. Stock market investments are subject to market risks, and readers are encouraged to consult with a financial advisor before making any investment decisions.
