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Polycab India ends 21% higher over issue price on stock market debut

This was the best listing-day performance for a company since HDFC Asset Management Company's stock market debut in August 2018

bse, sensex, bombay stock exchange
The HDFC Bank counter witnessed volumes of Rs 21 billion in the cash segment

Shares of Polycab India, a leading manufacturer of electric wires and cables, ended 21 per cent higher over its issue price during its stock market debut on Tuesday. The stock ended at ~653, compared to the initial public offering (IPO) price of ~538 per share. The stock touched a high of ~668 and a low of ~630 on the National Stock Exchange, with nearly ~1,500 crore worth of shares changing hands. This was the best listing-day performance for a company since HDFC Asset Management Company’s (AMC’s) stock market debut in August 2018. Shares of the asset manager had soared ...