Samhi Hotels Stock Lists with 6.75% Premium, Analysts Recommend Booking Profits
Samhi Hotels stock made a subdued debut on the stock exchanges on September 22, listing at a premium of just 6.75% over the IPO price of Rs 126. The stock opened at Rs 134.50 on the NSE and Rs 130.55 on the BSE.
Several analysts have recommended booking profits in the stock, citing its loss-making status and negative net worth. “Investors should book profit and exit their position,” said Shivani Nyati, Head of Wealth, Swastika Investmart Ltd.
Anushi Vakharia, Research Analyst at StoxBox, also advised investors to sell their shares on the opening day. “The stock opened near the issue price due to the company-specific characteristics such as loss-making status, negative net worth and increased borrowings,” she said.
Samhi Hotels IPO was subscribed 5.57 times, supported by qualified institutional buyers (QIBs). However, the issue did not receive enough support from high net-worth individuals (HNIs) and retail investors.
The company’s financial performance has been poor for the last three years, but it is making progress on cutting losses. The stock is currently trading at a sales multiple of 3.7X, which is below the industry average.
Overall, the outlook for Samhi Hotels stock is not very bright. Analysts recommend booking profits in the stock, given its loss-making status and negative net worth. Investors should consider other avenues for investment.
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