Shares of PTC India Financial Services listed Wednesday with a 4.5% discount on the National Stock Exchange and slipped further 16% to Rs 23.50, which some analysts said was because of high valuations.
The shares opened at Rs 26.75, compared with its issue price of Rs 28, and at 12:00 hrs the share was traded at Rs 25.50, down about 9%. Brokerage Way2Wealth said at Rs 28 a share, the issue was priced at 1.25 times its fiscal year 2013 book value.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
