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| Aster Silicates soars 69% on debut |
| Press Trust of India / Mumbai Jul 28, 2010, 10:50 IST |
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Shares of Aster Silicates today shot up by nearly 69 per cent in its debut trade on the BSE, over its issue price of Rs 118.
Chemical manufacturer Aster Silicates opened on a firm note at Rs 127.70, up 8.22 per cent, against the issue price of Rs 118 per equity. The scrip zoomed 90.67 per cent to touch an intra-day high of Rs 225 on the Bombay Stock Exchange. It finally settled up 68.72 per cent at Rs 199.10.
In a similar trend on the National Stock Exchange, the stock closed at Rs 214, up 81.36 per cent.
On the volume front, a total of over nine crore shares of the company changed hands on the two bourses.
The broader market Sensex closed at 17,957.37, down 120.24 points.
The Rs 53-crore initial public offer of the company had opened on June 24 and closed on June 28. The price band was fixed at Rs 112-118.
Meanwhile, FMCG major Emami Ltd's realty arm Emami Infrastructure settled down 59 per cent at Rs 101.70 on the BSE from its opening price of Rs 250. During the day, the scrip soared 17.2 per cent to touch a high of Rs 293.
On the National Stock Exchange, the stock closed at Rs 103.70, down nearly 83 per cent from its opening price at Rs 598.80.
The realty undertaking of Emami Ltd was demerged into Emami Infrastructure Ltd (EIL).
The company had earlier said there was no plan for an IPO, and the listing would be done following shareholders' approval to hive off its realty arm.
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