Precision Camshafts makes weak debut; shares down 5% at close

Shares of Precision Camshafts, which made a weak debut at the bourses today, ended nearly 5 per cent lower against the issue price of Rs 186.
The stock which listed at Rs 163.10, down 12.31 per cent over the issue price, finally ended the day at Rs 177.25, reflecting a loss of 4.7 per cent on BSE.
During the day, the stock touched a high of Rs 184.70 and a low of Rs 155.
At NSE, shares of the company fell 4.59 per cent to close at Rs 177.45.
On the volume front, 30.79 lakh shares of the company changed hands at BSE and over one crore shares were traded at NSE during the day.

The company at present commands a market valuation of Rs 1,679.35 crore.

The IPO of Precision Camshafts, the first public offering of 2016, had seen an over subscription of 1.89 times.
The company had set a price band of Rs 180-186 for the share sale.
The Rs 240-crore public float had closed on January 29. Maharashtra-based Precision Camshafts makes over 150 varieties of camshafts for small and mid-sized passenger vehicle engines world over.
Meanwhile, the broader market too witnessed selling pressure where the BSE Sensex ended with a loss of 329.55 points at 24,287.42.