Hero Motors, SS Retail, Jindal Supreme Shares Rise Up To 20%; SS Retail Up 109% From IPO Price

A day after their market debuts, shares of Hero Motors, SS Retail and Jindal Supreme (India) extended their gains on Thursday.

SS Retail emerged as the biggest mover, with its shares trading 109.43% above the initial public offering (IPO) price after a 50.73% premium listing. Hero Motors, which had debuted at a discount, also saw a sharp recovery, while Jindal Supreme continued to trade above its issue price.

At 12:39 pm IST, Hero Motors share price was at ₹118.08, up 20%; SS Retail shares stood at ₹852.10, up 13.80% at 12:36 pm; and Jindal Supreme share price was at ₹134.38, up 4.99% at 12:34 pm.

How Did The Three Stocks Perform After Listing?

Hero Motors made a weak debut on Wednesday, listing at ₹82.10, a 2.26% discount to its IPO price of ₹84. The stock recovered after listing and moved higher on Thursday, touching ₹118.21 during the session. At that level, it was 40.73% above its issue price.

SS Retail had a stronger start. The stock is listed at ₹639.10 on the Bombay Stock Exchange (BSE), representing a 50.73% premium to its IPO price of ₹424. It then climbed to an intraday high of ₹888 on Thursday, taking its gain over the issue price to 109.43%.

Jindal Supreme also opened above its IPO price. It listed at ₹121.90, up 31.08% from the issue price of ₹93. The stock subsequently rose to ₹134.38, putting it 44.49% above the IPO price.

What Are Analysts Tracking After The Listings?

Experts said the sharp listing moves need to be viewed alongside the companies’ operating performance. For investors focused on the businesses beyond their debut-day moves, quarterly results and management commentary are among the factors to track.

For SS Retail, analysts pointed to organised retail, changing consumer preferences and expansion of the company’s retail presence as areas to watch. Revenue growth, same-store sales, margins, store expansion and cash-flow generation could provide a clearer picture of business performance over time.

For Jindal Supreme, the focus includes revenue growth, order execution and profitability during expansion. Analysts also highlighted capacity expansion, order-book growth and the company’s presence in steel and related products. Upcoming results could provide visibility on capacity utilisation, margin stability and cash flow.

For Hero Motors, analysts highlighted the electric-drive motor market, which is expected to grow at a 28-32% CAGR through CY31. The company’s ability to sustain growth, improve profitability and generate cash remains an area to track.

Experts also said investors who entered these stocks for listing-day gains could consider their approach separately from longer-term investment considerations. For the latter, they suggested following quarterly performance and management commentary rather than focusing only on the initial stock-market reaction.

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