Prudent Corporate falls 6% below its issue price despite decent listing

Shares of Prudent Corporate Advisoory Services fell below its issue price after it debuted at Rs 660, 5 per cent higher against issue price of Rs 630 per share on the BSE on Friday. The stock hit an intra-day low of Rs 594.25, down 6 per cent from its issue price.

On the National Stock Exchange (NSE), the stock opened at Rs 650, 3 per cent higher against its issue price. At 10:35 am; it traded at Rs 587.20, 7 per cent discount from its issue price of Rs 660 per share. Later, it hit an intra-day low of Rs 586. Around 6 million equity shares changed hands on the NSE and BSE. In comparison, the S&P BSE Sensex