Suryoday’s poor listing isn’t a surprise, but is it worth at this price?

The near-term weakness is an opportunity to gradually add Suryoday for the long term

Madhuchanda Dey

March 30, 2021 / 04:45 PM IST

Suryoday’s poor listing isn’t a surprise, but is it worth at this price?

PRO Only Highlights
- Quarterly performance largely backed by improved realisations
- Medium-term triggers China plus and protectionist measures for tyre industry
- Valuations not inexpensive; but improved medium-term outlook

The weak listing of Suryoday Small Finance Bank (SFB, CMP: Rs 278) did not come as a surprise to us. Even before the subdued oversubscription (2.37 times), we had advised our investors that this is not a stock for listing gain but a business to own for the long term and should be added in the event of weakness in the secondary market. The stock listed at a discount of 4.4 per cent and had a weak day before closing...

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Suryoday’s poor listing isn’t a surprise, but is it worth at this price?

The near-term weakness is an opportunity to gradually add Suryoday for the long term

Watch Webinar

What Do You Get