Nuvoco Vistas off to a weak start, lists at 17% discount to issue price

The stock rebound from its opening level of Rs 471 and moved higher to Rs 538.60 on the BSE in intra-day trade

Cement manufacturer Nuvoco Vistas Corporation made a weak debut on the bourses as the company’s shares listed at Rs 471, 17 per cent below its issue price of Rs 570 per share on the BSE on Monday. On the National Stock Exchange (NSE), the stock opened at Rs 485, 15 per cent down against its issue price, the exchange data shows.

However, the stock rebound from its opening level and moved higher to Rs 538.60 on the BSE in intra-day trade. At 10:04 am, it was trading at Rs 530.90, up 13 per cent over its opening level, but was still