The shares of National Securities Depository (NSDL) gained nearly 20 percent on August 7, extending significant gains for the second consecutive session since market debut. The shares of the company are now around 40 percent higher than the IPO price.
NSDL share price:
The shares of NSDL had made a decent stock market debut on August 6, listing at Rs 880 apiece on BSE. This marked a premium of 10 percent over its IPO price at Rs 880 apiece. The listing premium was lower than grey market estimates. Ahead of listing, the unlisted shares of the company were trading with a grey market premium of nearly 16 percent over the IPO price. According to analysts, investors should consider holding the stock for the long term, given NSDL’s strong fundamentals and leadership in the depository segment.
The shares have now gained nearly 28 percent in the two sessions since their market debut. The market capitalization of the company surged significantly in the first two days to cross Rs 25,250-mark.
Sri Lotus Developers:
Sri Lotus Developers shares jumped more than 4 percent intraday to trade at Rs 204.35 apiece. This comes a day after the stock rallied 10 percent to close in the upper circuit at Rs 195.80 per share on its debut day.
The shares of the Mumbai-based luxury real estate developer debuted at Rs 179 apiece, marking a premium of 19 percent over the IPO price. This came after the Rs 792-crore IPO garnered a strong 69 times subscription during its three days of public bidding.
The listing premium was more or less at par with grey market estimates. Ahead of listing, the unlisted shares of the company were trading with a grey market premium (GMP) of nearly 18 percent over the IPO price.
The shares however erased all losses to trade in the red later during the day.
Laxmi India Finance:
Laxmi India Finance shares gained 16 percent on August 7 to trade at Rs 144 apiece. The stock has now snapped a two-day losing streak, after listing at a discount of nearly 13 percent over the IPO price on August 5.
Also read: Our LIVE blog on stock market updates
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