Precision Camshafts settled at Rs 177.25 on BSE, at a discount of 4.7% to its offer price of Rs 186 on its debut on the bourses today, 8 February 2016.
Meanwhile, the S&P BSE Sensex dropped 329.55 points or 1.34% to settle at 24,287.42.
The stock got listed at Rs 163.10, at a discount of 12.31% to the issue price of Rs 186. The stock hit a high of Rs 184.70 and a low of Rs 155 in intraday trade. On BSE, 30.78 lakh shares were traded on the counter.
Precision Camshafts' initial public offer (IPO) was subscribed 1.91 times.
On consolidated basis, the company reported net profit of Rs 34.10 crore on net turnover of Rs 253.37 crore for six months ended 30 September 2015. Net profit stood at Rs 62.36 crore on net turnover of Rs 532.42 crore for the year ended 31 March 2015.
Precision Camshafts, promoted by first generation entrepreneurs Yatin Shah and Suhasini Shah, is one of the world's leading manufacturers of camshafts, a critical engine component in passenger vehicles.
Powered by Capital Market - Live News
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app