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Archean Chemical Industries gains 13% on listing day

More than 2.21 crore Archean shares traded hands on the NSE and 11.19 lakh on the BSE

November 21, 2022 / 05:47 PM IST
Archean Chemical Industries IPO

Archean Chemical Industries IPO

 
 
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Speciality marine chemical company Archean Chemical Industries didn’t have the expected blockbuster debut but still closed the listing day with nearly 13 percent gains, as the market ended lower for the third straight session on November 21.

The stock opened at Rs 450 against expectations of a listing price of more than Rs 500. It closed at Rs 458.15 on the NSE, up 12.57 percent over the issue price of Rs 407 after hitting the day’s high of Rs 476 and a low of Rs 440.20.

The correction in equity market weighed on sentiment. The Nifty itself fell around 300 points from its recent high and remained in the consolidation mode.

In terms of volumes, more than 2.21 crore Archean shares traded hands on the NSE and 11.19 lakh shares on the BSE.