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HDFC Standard Gains 19% Post Listing At Rs. 311
The gains in the scrip are attributable to the Moody's India upgrade and now it is to be seen whether the gains are sustained in the long run.
The HDFC IPO listed at a premium of over 7% on the BSE in comparison to its issue price of Rs. 290. The bigger issue which aimed to garner a total of huge Rs. 8695 crore from the primary market saw an oversubscription of 4.89 times at a price band of Rs 275-290 per share.
The analysts gave a neutral to positive stance on the issue with a subscribe rating given the huge potential the untapped industry offers plus the positive financials of the company.
Investors are losing money in the IPO, keep away from IPO frenzy, read here.
After the IPOs are being recommended a big no by investor experts across the industry as they have failed to maintain the listing gains in the later time, it is now to be seen whether the HDFC scrip maintains its listing gains or not.
At 10:53am, the stock was trading higher by Rs. 342.75 on the BSE.
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