The BSE Midcap and Smallcap indices ended with heavy losses of over 2 per cent each. Debutant Rainbow Children's Medicare ended a steep discount of 17 per cent to its issue price.
The stock listed at Rs 506, a 7% discount when compared with its issue price of Rs 542 per share on the BSE.
The broader markets ended with deeper losses, with both the BSE Midcap and Smallcap indices down over 1.5 per cent each; the breadth too at 2:1 was in favour of the bears.
The stock opened at Rs 355, 22 per cent higher against issue price of Rs 292 on the BSE.
CLOSING BELL: More than 20 of the 30 Sensex stocks and 30 of the 50 Nifty counters ended in the negative zone. These included HCL Tech, Infosys, L&T, Wipro, Asian Paints, HDFC, and HDFC Bank
The wiring harness business benefits from the mega trends (of premiumization, increasing use of electronics, and electrification) playing out in the Auto industry, resulting in an increase in content.
The positive listing-day performance comes even as the ethnic wear maker's Rs 3,150-crore IPO saw subdued response
The 30-pack index was lifted by Tata Steel (up 3 per cent), RIL (up 2 per cent), Bajaj twins, and Asian Paints
The company's IPO saw strong response from investors and had been subscribed 17 times. The issue had received bids for 212.88 crore shares against the offer size of 12.25 crore shares.
Swadeshi Jagran Manch has said the remedy is worse than the disease as Indian authorities will not just lose the oversight but also the right to tax gains accruing from businesses built in the country
Companies will not be allowed to list abroad if the review finds that national security could be impacted, the regulator said in a statement on its official WeChat account
The Nifty gained 150 points, and was up 24.1 per cent for the year; Textile shares logged smart gains today after the GST Council deferred rate hike; Debutant CMS Info Systems witnessed a late rally
The BSE Midcap index and Smallcap indices also finished with smart gains of 1 per cent and 1.5 per cent, respectively.
Energy, auto, healthcare and banking shares were the major losers, while IT shares managed to buck the trend.
Premji Invest's PI Opportunities Fund and Natco Pharma were among the selling shareholders
The broader markets also finished with significant gains with the BSE Midcap & Smallcap indices up 1 per cent and 0.7 per cent, respectively. IT, financials and energy shares were the top gainers.
'Don't get blinded by near term big numbers but think of the decades ahead', said Bob van Dijk
Nearly half of the 87 companies that were listed this year are trading below their issue prices. Let's delve into the green and red flags that investors must keep in mind before applying for an IPO
Post listing, the stock was locked in the upper circuit of 5 per cent at Rs 498.75 on the BSE
Post listing, the stock moved higher to Rs 828, up 11 per cent over its issue price on the BSE