Aditya Birla Capital up 5% after falling 14% in three days post listing

The stock was up 5% at Rs 213.85, bouncing back 10% from its early morning low of Rs 193.55 on NSE.

Aditya Birla Capital (ABCL) is locked in upper circuit of Rs 213.85, up 5%, bouncing back 10% from its early morning low on the National Stock Exchange (NSE), on back of heavy volumes. The stock hit a low of Rs 193.55 in early morning trade on Thursday.

Till 12:30 PM; a combined 34.32 million shares have changed hands on NSE and BSE, against an average 1.5 million shares that were traded in past four trading sessions post its listing.

Shares of ABCL got listed at Rs 250 on the NSE on September 1, 2017 and later fell by 5% to hit its lowest trading permissible limit for the day. In past three trading sessions, it fell 14% from Rs 237.50 on Friday.

With Rs 47,154 crore market capitalisation (market cap), ABCL stands at number 57 position in overall market cap ranking, BSE data shows.

Formerly known as the Aditya Birla Financial Services Limited (ABFSL), ABCL ranks among the largest fund managers in India, and has a lending book of Rs 41,100 crore as on June 2017.

ABCL is the holding company of all the financial services businesses of the Aditya Birla Group. With a strong presence across the life insurance, asset management, private equity, corporate lending, structured finance, project finance, general insurance broking, wealth management, equity, currency and commodity broking, online personal finance management, housing finance, pension fund management and health insurance business.