(You can now subscribe to our(You can now subscribe to our ETMarkets WhatsApp channelShares of the newly listed Stanley Lifestyles jumped 9% on BSE to its new all-time high of Rs 517.10 after the global brokerage firm Morgan Stanley bought nearly 3.5 lakh shares of the company on Friday.The acquisition of shares was done through a bulk deal at Rs 478.9 apiece with a total transaction value of Rs 16.7 crore.Additionally, Oman India Joint investment Fund also sold around 40.7 lakh shares in the transaction, according to data from BSE while in a separate deal on the NSE, Franklin Templeton Mutual Fund and Nippon India Mutual Fund bought 11 lakh and 5 lakh shares in Stanley Lifestyles, respectively.The shares of Stanley Lifestyles debuted on the stock exchanges with a premium of 35.23% on Friday.
Post the listing, the stock came under selling pressure and fell 5% to end the day at 28% above the issue price.Analysts said the healthy listing signifies investor confidence in Stanley Lifestyles' established brand, diverse product portfolio, and consistent financial performance.
"However, the high IPO valuation and identified risks, such as dependence on sofa and recliner sales and geographical concentration, warrant careful consideration," said Shivani Nyati, Head of Wealth at Swastika Investmart, while advising investors to hold their shares with a stop loss of Rs 450.Stanley does not intend to expand into smaller towns, but mostly in major metros like Delhi, Mumbai, Hyderabad, Pune, and Calcutta.The company intends to double its business in the next three-to-four years.
"We have been steadily growing at about 20% year-on-year and that is our target to double our business in the next four years," said the company's CMD Sunil Suresh.
(You can now subscribe to our
(You can now subscribe to our ETMarkets WhatsApp channel
Shares of the newly listed Stanley Lifestyles jumped 9% on BSE to its new all-time high of Rs 517.10 after the global brokerage firm Morgan Stanley bought nearly 3.5 lakh shares of the company on Friday.The acquisition of shares was done through a bulk deal at Rs 478.9 apiece with a total transaction value of Rs 16.7 crore.Additionally, Oman India Joint investment Fund also sold around 40.7 lakh shares in the transaction, according to data from BSE while in a separate deal on the NSE, Franklin Templeton Mutual Fund and Nippon India Mutual Fund bought 11 lakh and 5 lakh shares in Stanley Lifestyles, respectively.The shares of Stanley Lifestyles debuted on the stock exchanges with a premium of 35.23% on Friday. Post the listing, the stock came under selling pressure and fell 5% to end the day at 28% above the issue price.Analysts said the healthy listing signifies investor confidence in Stanley Lifestyles' established brand, diverse product portfolio, and consistent financial performance."However, the high IPO valuation and identified risks, such as dependence on sofa and recliner sales and geographical concentration, warrant careful consideration," said Shivani Nyati, Head of Wealth at Swastika Investmart, while advising investors to hold their shares with a stop loss of Rs 450.Stanley does not intend to expand into smaller towns, but mostly in major metros like Delhi, Mumbai, Hyderabad, Pune, and Calcutta.The company intends to double its business in the next three-to-four years. "We have been steadily growing at about 20% year-on-year and that is our target to double our business in the next four years," said the company's CMD Sunil Suresh.
