Nuvoco Vistas hits new high, trades above issue price for first time

The stock was trading above its issue price of Rs 570 for the first time since listing

Shares of cement manufacturer Nuvoco Vistas Corporation (NVCL) hit a new high of Rs 577.50, up 3 per cent on the BSE in Monday's intra-day trade. The stock for the first time crossed its issue price of Rs 570 since listing.

The company had made a weak stock market debut on August 23, 2021, as the shares got listed at Rs 471, 17 per cent below its issue price on the BSE.

NVCL, part of the Nirma Group, is the fifth largest cement company in India (4.2 per cent of the total capacity) and the largest cement company in East India in