The four companies — Devyani International, Krsnaa Diagnostics, Exxaro Tiles, and Windlas Biotech — made a mixed market debut on Monday, of which Devyani registered a spectacular start on exchanges while Windlas posted a correction during the listing, while Krsnaa and Exxaro were mute.

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In line with the expectations of Zee Business Managing Editor Anil Singhvi, the shares of Devyani International made a bumper debut of over 55 per cent higher premium to above Rs 140 per share on both NSE and BSE as compared to the issue price of Rs 90 per share at the upper end.

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Singhvi had expected that Devyani International shares would be listed in Rs 140-160 per share range and had suggested short-term investors keep a stop loss of Rs 125 per share, while for long-term investors advised to HOLD it for a target of Rs 175-200 per share going forward.

The counter made a new 52-week high of Rs 141.05 per share on the BSE, and Rs 140.9 per share on the NSE. It witnessed a profit booking immediately after its listing and declined near 11 per cent to Rs 125.7 per share on the BSE at around 10:50 am.

On the contrary, Windlas Biotech got listed at around 10 per cent lower to Rs 419 per share on both BSE and NSE from its issue price of Rs 460 per share. It missed the managing editor’s expectations that it would be listed in a range of Rs 500-550 per share. 

While the other two companies —Exxaro Tiles and Krsnaa Diagnostics made a positive but mute start on the exchanges. The former got listed by over 10 per cent higher premium above Rs 132 per share on BSE and NSE from Rs 120 issue price, whereas the latter listed at around 6 per cent higher premium to Rs 1010 apiece on NSE and Rs 1016 apiece on BSE versus Rs 954 a share issue price.

For Exxaro tiles, Singhvi had predicted that it shall get listed near issue price, and, Krsnaa would get listed in Rs 1150-1200 per share range.