More than seventy per cent of the newly-listed companies are trading well above their issue price, giving handsome returns of up to 98 percent.
New Delhi: More than seventy per cent of the newly-listed companies are trading well above their issue price, giving handsome returns of up to 98 percent.
Out of the 17 companies that came out with their IPOs and got listed on the bourses this year, 12 have seen remarkable gains against the price at which they had issued shares to investors, an analysis of the stock performance of the newly-listed firms showed.
The rest five companies, however, failed to see positive investor response and are trading below their issue price, falling up to 30 percent.
Among the gainers, microfinance player Ujjivan Financial Services which made its stock market debut in May has seen the biggest rally in its share price and is currently trading 98.35 percent higher than its IPO price.
E-commerce player Infibeam Incorporation, whose shares got listed in April, comes second by surging 96.52 percent as compared to the issue price.
Shares of staffing firm Quess Corp has risen by 64.35 percent, while Advanced Enzyme Technologies soared 61.38 percent and Equitas Holdings gained 59.90 percent.
Similarly, Parag Milk Foods shares have surged 54.88 percent, Mahanagar Gas zoomed 47.24 percent and Thyrocare Technologies jumped 36.32 percent.
In case of RBL Bank, its shares went up 32.8 percent, while of that of TeamLease Services rose 27.64 percent.
Shares of S P Apparels and Dilip Buildcon rose 21.88 per cent and 5.70 percent, respectively.
On the other hand five companies - Larsen & Toubro Infotech, Bharat Wire Ropes, HealthCare Global Enterprises, Quick Heal Technologies and Precision Camshafts - suffered losses and failed to trade above their IPO price.
Shares of software security solutions provider Quick Heal have fallen by 29.98 percent.
In the stock market, the BSE benchmark Sensex has surged 2,236 points or 8.56 percent, while the NSE Nifty gained 769.25 points, 9.68 percent, so far this year.
The Sensex touched its 52-week high of 29,077.28 on September 8.