SRM Contractors freezes at 5% upper circuit; rises 12% against issue price

Shares of SRM Contractors were locked in the 5-per cent upper circuit at Rs 236.20, a 12.5 per cent gain against its issue price of Rs 210 on the BSE in Wednesday's intraday deals. The trade saw only buyers seen on the counter on its market debut.

A combined 1.1 million equity shares have changed hands and there are pending buy orders for 0.97 million shares on the National Stock Exchange (NSE) and BSE.

The stock of the civil construction company got listed at Rs 225, a 7 per cent premium over its issue price on the BSE. On