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IST
Markets have knocked down very badly today on the back of weak US cues, which impacted global markets as well. Sensex plunges more than 1000 points and slipped below 15000 mark during the day. The impact of secondary market has seen on primary market as well.
19 stocks have listed in the year 2008, out of which 84% or 16 stocks are below their issue price. Porwal Auto fell 68% at Rs 24.05 as against its issue price of Rs 75, Manaksia closed at Rs 62.55, down 61% from its issue price and Precision Pipes dipped by 58% to Rs 62.85 versus offer price of Rs 150. Half of the stocks have slumped more than 30%. Amongst the big listings, ADAG’s Reliance Power (collected more than Rs 11,000 crore) and Kishore Biyani’s Future Capital (raised over Rs 450 crore) plummeted nearly 30-31%. Rural Electrification, which raised over Rs 1600 crore, also fell below issue price today. However, GSS America, Onmobile Global and Burnpur Cement are still above their issue price, gained 50%, 12% and 85%, respectively.
Tags: Porwal Auto, Manaksia, Precision Pipes, Bang Overseas, Future Capital, Reliance Power, Rural Elect Cor, Burnpur Cement
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