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indiatvpaisa_IPO

IPOs continue to excite investors in 2017

Only four months in 2017, and four of the companies have risen higher as compared to their issue price, which got listed on Indian equity markets, in the calendar year.

Stocks of BSE on Thursday, April 27 closed at Rs 1006.1 per share, while Rs 806 per share was set as the issue price. The stocks of BSE have risen 35.1%, since its listing on February 3.

Music Broadcast was listed on March 17, at Rs 420, as compared to issue price of Rs 333 per share. Stocks gave returns of 5.7% to its investors, and were trading at Rs 325.15 per piece on Thursday.

Avenue Supermart, has crossed Rs 800-level, registering returns of 167%. It was listed on March 21. On Thursday, stocks of the company were trading at Rs 742 per share.

CL Educate, was the only one which failed to excite investors, and is the only one that was listed on a discount this year. The stocks of the company were trading at Rs 440.5 per piece on Thursday, and posted negative returns of 12.2% to its investors. It has set the issue price at Rs 502 per share and.

Stock view:

Music Broadcast Ltd is currently trading at Rs 349.4, down by Rs 0.7 or 0.2% from its previous closing of Rs 350.1 on the BSE.

The scrip opened at Rs 353.8 and has touched a high and low of Rs 353.8 and Rs 349 respectively. So far 10886(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1997.49 crore.

The BSE group ‘B’ stock of face value Rs 10 has touched a 52 week high of Rs 420 on 17-Mar-2017 and a 52 week low of Rs 336.05 on 19-Apr-2017. Last one week high and low of the scrip stood at Rs 355.2 and Rs 340 respectively.

The promoters holding in the company stood at 71.4 % while Institutions and Non-Institutions held 9.85 % and 18.76 % respectively.

The stock is currently trading above its 200 DMA