The stock dipped 8% to Rs 1,379 after the company said the promoter Radhakishan Damani propose to sell upto 1% stake in the company in the open market for achieving minimum public shareholding
Avenue Supermarts, Shankara Building Products, CDSL, PSP Projects, Sheela Foam, Apex Frozen and Endurance Technologies have gained more than 100% against their respective issue price.
At 1:51 PM; the stock was trading 17% higher at Rs 1,209, after hitting a new high of Rs 1,217 in intra-day trade on BSE
The stock hit a new high of Rs 1,124 on NSE in intra-day trade, rallied 75% since listing on March 21 and 276% against IPO price of Rs 299 per share
The 30-day lock-in period on anchor investors of Avenue Supermarts ends on Monday
Avenue Supermarts with an m-cap of Rs 39,442 crore stood at 67th position on BSE at 01:38 pm.
Answer lies in pre-open call auction, which is a 45-minute window for price discovery