Syngene makes a brilliant debut

As expected, Syngene International Ltd. hit the bourses with a bang despite falling benchmark indices.
The Syngene stock got listed at Rs. 295 and soon soared to a high of Rs. 315 and by the time of this post, it was trading around Rs. 312 Rs.
The stock was issued at Rs. 250 and this issue was subscribed 32 times.
For those who booked profits, its almost a 25 % return in just 12 days.

Update:

Tax and depreciation benefits shall be reducing over years to come and the concentrated client-base prone to USA health reforms coupled with the USFDA compliance costs are discouraging factors to buy this stock at such elevated level in the secondary market.

Presently, money seeking safety shall be making this stock buoyant as the clouds of uncertainty still looms over the path to GST.
I did not get any allotment in this issue, and due to aforementioned reasons, I shall not enter in this stock at the present level in the secondary market.

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