Newly-listed stocks rally: JSW Cement, Brigade Hotel Ventures, Crizac shares jump up to 7%

Newly-listed stocks rally: JSW Cement, Brigade Hotel Ventures, Crizac shares jump up to 7%

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The shares of JSW Cement, Brigade Hotel Ventures and Crizac sharply gained on August 19. This comes amid a broader uptrend in the stock market.

The sharp rise in the share prices comes weeks after three stocks debuted on Dalal Street.

Brigade Hotel Ventures share price:

Brigade Hotel Ventures shares jumped more than 7 percent to hit an intraday high of Rs 92 apiece. This is the highest level seen by the stock so far. Brigade Hotel Ventures shares have gained nearly 8 percent since listing, and are currently up 2 percent from its IPO price.

The stock had made a weak market debut on July 31, listing at Rs 81.10 apiece on NSE. This marks a discount of nearly 10 percent over the IPO price of Rs 90 per share.

The Rs 760-crore IPO of Brigade Hotel Ventures was subscribed nearly 4.5 times during its three days of public bidding. Retail investors led the subscription race, booking their reserved portion over 6 times.

Crizac share price:

Crizac shares jumped more than 6 percent to hit an intraday high of Rs 337 apiece, snapping a two-day losing streak. The shares of the company have surged nearly 20 percent from its listing price, and are up more than 37 percent from the IPO price.

Crizac shares had listed at Rs 281 apiece on NSE on July 9, marking a premium of nearly 15 percent over its IPO price of Rs 245 apiece.

The Rs 860-crore IPO of Crizac saw strong investor interest during its three days of public bidding. The maiden public issue of the Kolkata-based education company was subscribed 59.82 times between July 2 and July 4.

JSW Cement share price:

JSW Cement shares jumped more than 5 percent to hit an intraday high of Rs 158 apiece. The stock has so far increased 3 percent from its listing price, and nearly 8 percent from its IPO price within three sessions of being listed on the stock market.

The shares of the company had listed at Rs 153.5 per share on NSE on August 14, marking a 4 percent premium over the IPO price of Rs 147 per share. Motilal Oswal has initiated coverage on the stock with a 'Neutral' rating with a target price of Rs 163 per share, calling the stock 'fairly valued'.

Also read: Our LIVE blog on stock market updates

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