This recently listed IPO has slipped 49% from high, dips below issue price

Shares of Flair Writing Industries hit a record low of Rs 264.65 as they were locked in the 10-per cent lower circuit on the BSE on Tuesday at 01:25 PM amid heavy volumes.

In the past two trading days, the stock of the stationary company with a flagship brand 'Flair' has slipped 18 per cent after a 42.9 per cent year-on-year (Y-o-Y) decline in its profit after tax (PAT) at Rs 19.0 crore in the December quarter (Q3FY24), due to muted demand. It had posted PAT of Rs 33.3 crore in the year-ago quarter (Q3FY23).

With the past two days'