On their Friday stock market debut, shares of Concord Enviro Systems, DAM Capital Advisors, and Mamata Machinery soared, closing the day in positive territory. Transrail Lighting and Sanathan Textiles, meanwhile, saw their gains reversed and ended the day in the red.
Mamata Machinery: With a roughly 160 percent increase, the packing machinery manufacturer had one of the year’s best stock market debuts. The stock was launched on the BSE for Rs 600, which was 146.91 percent more than its issue price of Rs 243. It closed at Rs 629.95, indicating a gain of 159.23 percent, after further hitting the 5 percent upper circuit.
The stock likewise opened at Rs 600 on the NSE, and by the end of trading, the company’s market value had grown to Rs 1,550.29 crore.
The investment bank DAM Capital Advisors is listed on the BSE at a price of Rs 392.90, which is 38.83 percent more than its issue price of Rs 283. Later, the stock rose 61.44 percent to Rs 456.90 before closing the day up 47 percent to Rs 415.05.
The stock closed at Rs 416 per share on the NSE after opening at Rs 393, a 38.86 percent premium.
Concord Enviro Systems: Concord Enviro Systems Ltd. had a successful launch, listing its shares on the BSE at Rs 832, up 18.68% from the Rs 701 issue price. The NSE saw an 18.45% increase in the stock, which ended the day at Rs 830.35.
When Sanathan Textiles, a yarn maker, first listed on the NSE for Rs 422.30 instead of its issue price of Rs 321, it enjoyed a 31 percent rise. But over the day, the price fell, closing at Rs 393.90, down 6.73 percent.
It began trading at a premium of 30.56 percent, at Rs 419.10, on the BSE, and then dropped to Rs 422.65.
Transrail Lighting: At an opening price of Rs 590 on the NSE, shares of Transrail Lighting Ltd. were 36.57 percent higher than their issue price of Rs 432. The stock fell 6.02 percent from its starting price, reaching Rs 604 before ending at Rs 554.50.