Despite a stellar response to the initial public offering (IPO), the stock couldnt command a significant premium in the unofficial or grey market, due to the prevailing weak market sentiment. A day ahead of the listing, the stock was trading at a premium of Rs 10 to its issue price in the grey market.

The quota for retailers was subscribed 27.01 times whereas the portion for non-institutional investors fetched 15.66 times bids, and the allocation for qualified institutional bidders was booked 1.10 times.

"According to market sources, Sah Polymers IPO's grey market premium (GMP) is around Rs 7 as on January 2, 2022. So, the expected listing price for Sah Polymers, given at the uppermost price range of Rs 65, is Rs 72 (cap price plus the current estimated GMP). In terms of percentage, the anticipated gain per share is 10.75%," Manish Khanna, Co-Founder of Unlisted Assets, said.

Reliance Securities said while the company has a quality product mix, strong customer base across geographies and industries, good financials and a wide product portfolio, the issue seems pricey based on the current financials.

Incorporated in the year 1992, Sah Polymers is a leading PP woven bags manufacturer and exporter of PP woven bags and HDPE box bags, flexible intermediate bulk containers (FIBCs), and BOPP laminated bags.

Wednesday is also the record date for dividends by Bharat Rasayan (Rs 1.5 per share), Garware Technical Fibres (Rs 7 per share), Transpek Industry (Rs 22.5 per share), Mangalore Chemicals & Fertilizers (Rs 1.2 per share), Yuken India (Re 0.8 per share),National Peroxide (Rs 5 per share), Emmbi Industries (Re 0.6 per share) and Intrasoft Technologies (Re 1 per share among others.

Shares of Bharat Rasayan (Rs 1.5 per share), Emmbi Industries (Re 0.6 per share), Garware Technical Fibres (Rs 7 per share), Intrasoft Technologies (Re 1 per share), Mangalore Chemicals & Fertilizers (Rs 1.2 per share), National Peroxide (Rs 5 per share), Transpek Industry (Rs 22.5 per share) and Yuken India (Re 0.8 per share) are among the companies which will go ex-dividend today.

KR Choksey is bullish on EMMBI Industries has recommended buy rating on the stock with a target price of Rs 139 in its research report dated August 17, 2022.

Hindalco, UPL, Tata Steel, JSW Steel and Wipro were among the top losers on NSE in today's trade.

In the Nifty50 index, 5 stocks closed in the green, while 44 stocks ended in the red.

The Nifty Auto index closed 0.85 per cent down at 10881.4.

In the Nifty 50 index, 5 stocks ended in the green, while 44 stocks closed in the red in today's trade.

Regency Ceramic, Rachana Infrastructure Ltd., Globe Intl. Carriers, Kohinoor Foods and Globesecure Technologies Ltd., hit their fresh 52-week highs during the day.

The Nifty Realty index closed 2.19 per cent down at 375.9.

The Nifty Pharma index closed 1.32 per cent down at 11939.05.

In the Nifty pack, 5 stocks closed in the green, while 44 stocks ended in the red.

The Nifty IT index closed 1.16 per cent down at 27488.4.

KR Choksey is bullish on EMMBI Industries has recommended buy rating on the stock with a target price of Rs 139 in its research report dated May 18, 2022.

In another transaction, Trustline Deep Alpha AIF sold 150,000 shares of Emmbi Industries at Rs. 129 apiece through a bulk deal on the National Stock Exchange.

The 30-share Sensex was 949.73 points up at 49550.34 on Tuesday, while the 50-share Nifty index was trading 273.95 points higher at 14555.15.

KRChoksey is bullish on Emmbi Industries has recommended buy rating on the stock with a target price of Rs 96 in its research report dated September 07, 2020.

ICICI Direct is bullish on Emmbi Industries has recommended buy rating on the stock with a target price of Rs 85 in its research report dated June 22, 2020.

ICICI Direct believes one should select strong balance sheet companies with low leverage and higher cash flows during these turbulent times.